Beauty / news
Nykaa and L'Oréal's BOLD Fund to Take Minority Stakes in Indian Beauty Brands
Nykaa, India's largest beauty retailer, and L'Oréal's corporate venture fund BOLD will jointly invest in high-growth Indian beauty and personal care brands, taking minority positions. The investments are purely financial, leaving founders with full ownership and day-to-day control of their businesses.
The two partners said the investments will be financial only, so founders retain total ownership of their companies and continue to run them independently. The tie-up is framed as a long-term partnership rather than a short-term capital injection.
BOLD, which stands for Business Opportunities for L'Oréal Development, and Nykaa will target brands judged to have strong consumer traction and distinct propositions in the Indian beauty and personal care space.
Alongside funding, the pair will offer mentorship and guidance, and give the brands they back the possibility of tapping into L'Oréal's expertise as well as Nykaa's omnichannel retail network and its read on the consumer ecosystem.
"The intent is to help ambitious Indian beauty founders scale faster and build enduring brands for India and the world," the companies said in a joint statement.
Jacques Lebel, managing director of L'Oréal India, said India is one of the most exciting beauty markets in the world, with its energy coming both from an expanding base of demanding consumers with rapidly evolving needs and from its ecosystem of entrepreneurs.
The move pairs India's biggest beauty retail company with the French cosmetics giant's venture arm, with the announcement made from Paris.