This investment underscores Nykaa’s belief in the power of rich and unique content to catalyse consumer engagement
Mumbai, India, 05 August 2022: Nykaa, India’s leading beauty, fashion, and lifestyle destination, today confirmed Board approval for the acquisition of LBB (Iluminar Media Pvt Ltd), a millennial-focussed lifestyle discovery platform. This aligns with Nykaa’s fundamental content-first approach to engaging with its loyal consumer base. LBB’s large, discerning user base, content creation capability, curation mindset, and relationship with emerging brands makes it an attractive content powerhouse. Their focus on fashion, home and beauty categories fits well with Nykaa’s areas of strength.
As a multi-brand, omni-channel retailer offering endless aisles of authentic domestic and international brands, Nykaa’s market leadership in beauty and lifestyle has been the result of its core strengths: content-first approach, curation-led offering and discovery-led shopping experience. LBB’s strengths in these very areas will complement Nykaa and Nykaa Fashion’s vision to continually enrich their consumers’ shopping journey. Nykaa’s commitment to offering relevant and compelling curations to shoppers comes to life through its sustained efforts in spotlighting unique and trendy brands and categories across its platforms. Nykaa Fashion’s Hidden Gems offers a destination to distinct, homegrown fashion finds and the Conscious at Nykaa curation of cruelty-free, vegan and clean beauty products from across categories are two examples of Nykaa’s expertise in this realm that have added immense value to the consumer’s journey of discovering the right products for them.
Co-Founded by Suchita Salwan and Dhruv Mathur in 2015, LBB (Little Black Book) has evolved from a Tumblr-blog to a buzzing online, curated marketplace. LBB has built a brand and audience amongst India’s urban millennials, reaching over 70 million users through their various channels. Their focus on audience engagement through content and discovery has made them a brand loved by their users and brand partners alike.
Nykaa spokesperson, Nihir Parikh said, “At Nykaa, we are committed to offering the best to our consumers and make their shopping experience delightful. We are excited about the strong synergies we share with LBB, because much like Nykaa, they have sharply focused on driving discovery and spotlighting promising homegrown brands across their channels since day one. We welcome their like-minded leadership into the Nykaa family and look forward to helping them scale, as together we better serve our audience base.”
Suchita Salwan, Co-Founder and CEO, LBB said, “Through this partnership with Nykaa, we’re excited to scale to even greater heights. Together, we want to drive value to Nykaa and LBB’s shared goals to build discovery for India’s emerging brands through content, community and a discovery-first approach. LBB’s robust content creation capabilities and creator network will be leveraged within Nykaa’s platforms to drive consumer engagement and retention, further scaling reach and engagement for our brand partners.”