Nykaa, an India-based e-commerce retailer of beauty, wellness and fashion products, has launched a new direct-to-retail superstore for the Indian retail system, Business Standard reported on Wednesday (April 6).
The Nykaa Superstore app allows Gujarat retailers to access a wider range of beauty, personal care and wellness products on a single platform. It will also give retailers the freedom to order ‘100% genuine’ products as often and as often as they need, delivered to their doorstep.
Nykaa touts its transparency in pricing and offers returns alongside its simple returns that the company says make it “reliable.”
Superstore also helps retailers understand what products are popular in their region, review new offers and margins for SKUs, and choose quantity at purchase. According to the report, the app also enables brands to run trade programs for their SKUs and provides retailers with credit opportunities.
Last year, PYMNTS wrote that Nykaa was preparing an initial public offering (IPO) that would value the company at over $4 billion, according to a report.
Continue reading: India’s lifestyle retailer Nykaa sees a valuation of USD 4 billion when it goes public
The startup considered filing its draft in the Red Herring Prospectus (DRHP), the preliminary registration document prepared by merchant bankers that details the company’s operations, finances and status in the industry.
According to the report, Nykaa intended to sell just over 10% of the equity, which would raise $400 million or more.
Around the same time, PYMNTS also wrote that global investment firm KKR spent $625 million to buy a majority stake in Vini Cosmetics, aiming to expand the startup’s presence there in Asia and other markets in the region.
See also: KKR pays $625 million for majority stake in India’s Vini Cosmetics
KKR has invested approximately US$5.7 billion in equity in Indian companies over the past 15 years.