Merle Norman Cosmetics
It is a Mumbai-based retail seller of cosmetic and wellness products.
History[edit]
Falguni Nayar is the founder of Nykaa. Falguni is a graduate from Sydenham College of Commerce and Economics, Mumbai and holds a master’s degree from Indian Institute of Management Ahmedabad. She started her career with A. F. Ferguson & Co before moving to Kotak Mahindra Bank. Falguni is married to Sanjay Nayar, Partner & CEO of Kohlberg Kravis Roberts & Co (KKR) in India.[1][2][3]
Nykaa raised money through multiple rounds of funding. In July 2014, it raised INR 20 crore in funding from private investors and raised around INR 60 crore in Series B funding in October 2015 led by TVS Capital. Nykaa closed its last round of funding by raising INR 104.3 crores led by Max I Ltd (a wholly owned subsidiary of Max Ventures and Industries Ltd) post which venture capital firm Max Ventures and Industries acquired a 2% stake in online cosmetic and wellness brand.[4] In March 2020, Nykaa raised INR 100 crore from Steadview Capital.[5]
Operations and services[edit]
Nykaa is an e-commerce website offering beauty and wellness products from more than 500 leading brands.[6][7] Nykaa follows an inventory-based model with warehouses in Mumbai, New Delhi, and Chennai as its offline presence is in 60 stores and expanding. It claims to have over 1000+ curated brands and 85,000 products. Nykaa's core target audience is the 22–35 age group.[8] Along with this Nykaa has two offline store formats – Nykaa Luxe and Nykaa On Trend. The Luxe format features Indian and international luxury beauty brands along with Nykaa Beauty, the in-house collection of beauty products. The On Trend format is the first of its kind in the market with products curated by category basis their popularity.[9] In March 2016, Nykaa introduced private labeled products in the bath and body care category.[10]
Private label[edit]
Nykaa launched its collection of in-house beauty products in 2015 .[11]
Security and privacy issues[edit]
On 18th November 2019, Bengaluru-based security researcher Ehraz Ahmed detected an API flaw in Nykaa Fashion’s internal systems that allowed a potential attacker to log in to any user account if the attacker had access to the user’s email ID. Once the user ID is hijacked, sensitive information were at risk of being stolen. According to Ahmed, hackers or even telemarketers can use the flaw to mine data of Nykaa users.[12][13]
Nykaa Fashion has fixed a security vulnerability that could have potentially risked the details of nearly one million customers, including order details, mail identities, names, phones numbers and email addresses.[12]
References[edit]
- ↑ "Board Of Directors". www.dabur.com. Retrieved 2 April 2020. Unknown parameter
|url-status=ignored (help) - ↑ Kapur, Mallika (24 March 2017). "Falguni Nayar: The beauty entrepreneur". Live Mint. Retrieved 2 April 2020. Unknown parameter
|url-status=ignored (help) - ↑ Gopalan, Krishna (25 May 2015). "Power Couple". Outlook Business. Retrieved 2 April 2020. Unknown parameter
|url-status=ignored (help) - ↑ "Max Ventures and Industries acquires 2% stake in Nykaa". Timesofindia.indiatimes.com.
- ↑ Sai, Ishwar (1 April 2020). "Nykaa raises Rs 100 crore from existing investor Steadview Capital". Business Standard. Retrieved 1 April 2020. Unknown parameter
|url-status=ignored (help) - ↑ "Make-Up Haul: The Best Products That Are Only Available At Nykaa". Idiva.com.
- ↑ "Nykaa decks up to woo Indian beauty market with more products and services". Economictimes.indiatimes.com.
- ↑ "Nykaa And The Art Of Retailing: Trending Online Beauty With 10K Orders A Day". Inc42.com. 29 May 2017. Retrieved 29 June 2018.
- ↑ "Nykaa to expand offline presence". Deccanherald.com.
- ↑ Verma, Shrutika (9 March 2016). "Nykaa looks to raise Rs 100 crore, expand private label offerings". Livemint.com. Retrieved 29 June 2018.
- ↑ "Nykaa expects private label revenue contribution to double in 2017-18". Livemint.com.
- ↑ 12.0 12.1 "Nykaa fixes a data security bug". Economic Times. Retrieved 3 December 2019.
- ↑ "Flaws in code put customer data of four consumer internet platforms at risk". Live Mint. Retrieved 3 December 2019.
