Nykaa – A Platform to Avail High-Quality Affordable Cosmetics
Founded by Falguni Nayar in 2012, nykaa is an E-Commerce platform that lets you Grab high-quality cosmetic stuff at a maximum discount. It has a wide range of skin care, fragrance, and products for men, hair care, and luxury cosmetics available at its iOS and Android application.
Although, you can place orders through the official website of nykaa, yet the launching of the application has added convenience to the customers. Falguni has been a part of Indian Institute of Management Ahmedabad. She also worked as an employee for 18 years in Kotak Mahindra capital.
With nykaa offers, you can look forward to ordering your favorite cosmetics at a minimum of 20% discount. Also, you can expect the free delivery of the orders above 500 INR. Falguni noticed the opportunity as a gap between the cosmetic manufacturers and buyers. He quickly launched an application that sold genuine cosmetic products with the help of her husband Sanjay Nayer is a Banker.
From where does Nykaa get its funding?
- Nykaa received its funding from a series of investors that includes TVS capital funds from Pathak, Michael Carlos, and Harsh Mariwala.
- In 2014 July, nykaa was able to raise 3.4 million dollars. Indeed it has managed to receive 25 million dollars from different varieties of investors.
Main market strategy of nykaa:
The main market strategy of Nykaa to sell absolutely genuine cosmetic products with 100% authenticated sources and brands. Also, it stimulates the shopping experience by providing phone assistance, beauty articles and expert advice. It also endorses celebrity looks and tutorials for the help of the customers.
The brand sells more than 35000 products that belong to over 650 brands in different categories. In fact, 2015 witnessed nykaa to launch its own brand cosmetics which it did became the best sellers on the platform.
Nykaa primarily depends on digital marketing strategy to endorse itself. It uses content marketing that gives it the strength to fight the Global competitive. Moreover, it uses high-quality strategies to receive traffic on its website. The email marketing and social media marketing tools have rewarded the company manifold.
Since the launch, the company has progressed 300% in its overall revenue. In 2016 itself, the company raised revenue of 104 rupees through its customers and investors together. By the end of 2020, nykaa is expecting to initiate public offerings which may help it to receive 15,000 orders per day. The majority of the income is received from the customers belonging to 22 – 35 age groups
How to place an order at nykaa?
In order to place the order at nykaa, you just need to follow the below-mentioned step –
- Register on the application or nykaa official website.
- Drop the product in your cart
- Click on continue shopping option
- Place the order
- Soon as the order gets confirmed, you will give email and SMS regarding the same.
- Expect the product delivery soon
- You can leave an email to support @ nykaa.com to get your query is resolved.