Actress Katrina Kaif has signed an agreement to invest an undisclosed amount in Nykaa through a secondary transaction.
About the above investment actress Katrina Kaif said “I’ve always been an admirer of Falguni Nayar’s vision and having worked with Nykaa team, have seen firsthand their dedication towards offering customers the very best experience. Nykaa has opened new avenues for women to explore and celebrate their own unique idea of beauty and I am very excited to be a part of their growth journey”
She further said “Having already been associated with Nykaa through Kay Beauty, I was familiar with the company’s growing brand equity and market leadership and becoming an investor is the next logical step in sharing the Nykaa vision”
Actress Katrina Kaif had launched her beauty brand Kay Beauty in partnership with Nykaa on October 23, 2019.
Nykaa was founded in 2012 and this beauty and fashion retail now has 5 million monthly active users, 70 stores across India and more than 500 brands and 1, 30,000 products available through its website, app, and stores.
At the beginning of this year, Nykaa had joined the unicorn club after it raised Rs. 100 crores from its existing investor Steadview Capital.
Falguni Nayar is the Chief executive officer and founder of Nykaa.
After the agreement to invest an undisclosed amount in Nykaa by actress Katrina Kaif she said “I’ve had the pleasure of knowing Katrina and working closely with her for over 3 years now. I admire her work ethic, her understanding of beauty products, and most importantly her vision for building Kay beauty into a brand that enables women to be the best version of themselves. She’d wonderful partner and I’m happy this partnership is being further strengthened with her investment in Nykaa.”
This agreement of investment has come into the picture after one year of actress Katrina Kaif’s partnership with Nykaa for her beauty brand Kay Beauty.