In a press release on September 10, 2010, Nykaa stated that all required procedures had been fulfilled, including purchasing all of the equity shares in Iluminar Media Private Limited (Little Black Book). The lifestyle discovery content platform focusing on millennials has been around for ten years and is now acquired in a lucrative deal by Nykaa. Company officials claim that the purchase is consistent with Nykaa’s policy of emphasizing content when communicating with its dedicated customer base.
As a content powerhouse, LBB stands out due to its vast, discriminating user base, content generation capability, curating approach, and relationship with growing businesses. Nykaa’s fashion, home, and beauty strengths align well with these focus areas. The CEO of NykaaMan, Nihir Parikh, has expressed excitement about the strong synergies with LBB. Both companies are committed to promoting good local goods and facilitating their discovery. Management at Nykaa is excited for the collective growth to reach a wider audience.
Nykaa, a multi-brand, an omnichannel retailer with endless aisles of genuine domestic and international brands, attributes its market leadership in the beauty and lifestyle sectors to its three primary strengths: its content-first approach, its curated offering, and its discovery-led shopping experience. The skillsets that LBB brings to the table will enhance Nykaa and Nykaa Fashion’s mission to provide ever-improved services to its customers.
Nykaa’s efforts to highlight one-of-a-kind and on-trend brands and categories throughout its channels indicate the company’s dedication to providing shoppers with relevant and interesting curation. The Conscious at Nykaa’s curation of cruelty-free, vegan, and clean beauty products from across categories, and Nykaa Fashion’s Hidden Gems, a destination for unique, homegrown fashion finds, are two examples of Nykaa’s expertise in this field that have added immense value to the consumer’s journey of discovering the right products for them.
LBB co-founder & CEO Suchita Salwan believes the company can reach even greater heights by working with Nykaa. She hopes to add value to Nykaa and LBB’s mutual efforts to increase exposure for new brands in India by emphasizing discovery in all that we do with content, community, and technology. She stressed that by integrating LBB’s content creation ability and creator network into Nykaa’s platforms, the company will be able to “further scale reach and engagement for our brand partners.”
The acquisition of Little Black Book (LBB) emerged as a Tumblr blog in 2015. Co-founded by Suchita Salwan and Dhruv Mathur, LBB flourished into a humming online, curated marketplace. LBB has established a name and a following among India’s urban millennials, and the company now boasts a user base of over 70 million across all of its platforms. Their dedication to user and brand partner satisfaction through content and discovery has made them an industry leader. On August 5, Nykaa (NSE: NYKAA) announced that its board had approved the acquisition of Little Black Book (Iluminar Media Pvt Ltd). ♦
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