Online beauty retailer, Nykaa.com is getting ready to raise upto Rs 100 crore to expand its private labels and offline stores. Nykaa, operated by FSN E-Commerce Ventures, is in talks with both existing and new investors to raise funds.
It is poised to expand its brick-and-mortar presence under the Nykaa Lux brand. It intends having 30 stores by 2020 in places like malls, high streets and travel retail.
The company already operates outlets in Delhi and Mumbai airports. Two are slated to open in Mumbai malls. It is also eyeing smaller cities like Mangaluru.
Nykaa plans to extend its private label range beyond nail enamel and a bath and body line, to a full range of cosmetics and a natural products line.