L’Oréal and Nykaa launch joint fund to back Indian beauty brands
L’Oréal and Nykaa have entered a partnership to jointly back emerging beauty and personal care brands in India. The funding will be strictly financial and minority in scope, leaving founders with complete ownership and control.
Under the alliance, L’Oréal’s venture arm BOLD will work with Nykaa to acquire minority stakes in Indian beauty and wellness companies. Backed brands will receive mentorship and guidance from BOLD and Nykaa, plus access to L’Oréal’s global beauty expertise and Nykaa’s omnichannel retail infrastructure. The partnership aims to help ambitious Indian founders scale faster and build enduring brands for India and the world.
“Through BOLD and this partnership with Nykaa, we want to stand behind that talent—backing founders with capital, mentorship, and L’Oréal’s beauty expertise, while leaving them free to build their brands their way,” Jacques Lebel, L’Oréal India managing director said.
“Combining our strong consumer ecosystem, deep retail network and wide distribution, along with L’Oréal’s global beauty expertise will be an incredibly valuable asset to the next generation of founders as they look to build consumer brands that India can be proud of,” Anchit Nayar, Nykaa Beauty executive director and CEO said.
BOLD was set up in 2018 and backs companies across the beauty value chain, focusing on beauty and wellness brands and science and technology for beauty. Nykaa was established in 2012 by Falguni Nayar and has grown from an online beauty retailer into a broader group covering beauty, fashion and B2B operations. Earlier this week, the Competition Commission of India approved L’Oréal India’s acquisition of Onesto Labs, the entity that operates the Innovist personal care platform.
What we know
BOLD was set up in 2018.
Nykaa was established in 2012.
The funding will be strictly financial and minority in scope.
The companies said their goal is to help ambitious Indian beauty founders scale faster and build enduring brands for India and the world.
Earlier this week, the Competition Commission of India approved L’Oréal India’s acquisition of Onesto Labs.