Xavier Kong · · 1 min readIndia’s Nykaa in talks to acquire local lifestyle ecommerce platform
Nykaa, an online beauty marketplace, is set to acquire Little Black Book, a Chiratae-backed fashion ecommerce and discovery platform, Entrackr reported, citing sources.
“The deal would strengthen Nykaa’s content game and complement its lifestyle and home decor categories,” says one of the sources.
The deal is the latest in Nykaa’s investment spree as the Indian firm aims to bolster its offerings amid competition. Its recent investments include skincare brand Earth Rhythm, wellness brand Nudge Wellness, and women’s sportswear brand Kica.
Nykaa is also reportedly competing to acquire Times Internet-owned men’s lifestyle brand MensXP.
“The acquisition is likely to be a distressed one as Little Black Book has been finding it hard to raise new rounds for a while,” says a source. The ecommerce platform is also reported to have failed to pull off sizable fundraising efforts since 2019.
See also: Nykaa’s financial health in 5 charts
Editing by Miguel Cordon
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
