Omnichannel retailer Nykaa on Thursday said Boston-based asset management firm Fidelity Management & Research Company has invested in the Indian fashion and beauty marketplace Nykaa through a secondary transaction, providing a partial exit to early investors and employees.
The city-based company, which had achieved ”unicorn” status through an earlier fund-raising round that valued it at USD 1.2 billion, did not disclose the valuation of the investment.
Falguni Nayar, Founder, and CEO of Nykaa said, “We are very excited to have Fidelity, one of the largest asset managers in the world, to join as a partner in our growth journey. Nykaa’s focus on business sustainability and corporate governance further support such strong investor confidence.”
One of India’s profitable internet companies, Nykaa recorded a revenue of Rs 1,860 crore for the year ending March 2020 with EBIDTA of Rs 94 crore.
Nykaa added that it had clocked revenue of Rs 1,860 crore for the year ended March 31, 2020, and is expecting a 40% growth in consolidated revenue in the ongoing fiscal.
Last month, Nykaa told that it expects its new fashion business to top Rs 500 crore in sales in the current fiscal year. Nykaa has a portfolio of over 300,000 products and partners with more than 1,500 brands.