Keeping an eye on the omnichannel strategy and looking at the interplay of offline and online presence, online beauty retailer Nykaa.com is reportedly in talks to raise Rs 80 crore by the year end.
Falguni Nayar, the CEO and founder of Nykaa.com told PTI that the company further has plans to push growth as it aims to double sales to Rs 720 crores by 2017-18.
“We are in advanced talks to raise Rs 80 crore. We are looking at diluting 10 per cent equity and expect to close the funding by December this year. We are growing at a fast pace and we are aiming for Rs 720 crore gross merchandise value (sales) by fiscal 2018,” told Nayar.
As per reports, Nykaa.com is expected to close this fiscal with sales of Rs 320 crore.
The online beauty retailer plans to open about 26 more retail outlets by 2020 as it is looking at omnichannel presence to achieve growth targets.
“While online is our main focus, we are interested in omnichannel strategy and are looking at an interplay of offline and online presence. We plan to have 30 retail outlets by 2020,” Nayar said.
Currently, the company operates four outlets in Delhi, Mumbai and Bangalore and has plans to add three more outlets this year. It is also expanding its private labels offering under the brand name ‘Nykaa’.
“We are looking at launching full makeup under our private label. We plan to launch most of these products by March next year,” Nayar said.
At present, Nykaa sells bath and body products and nail paints.
