Nykaa Partners with BOLD for Investment in Indian Beauty Brands

Nykaa, a prominent beauty and fashion retailer, has formed a partnership with BOLD (Business Opportunities for L’Oréal Development), the venture capital arm of the renowned beauty brand, L’Oréal. This alliance aims to jointly invest in rising Indian beauty and personal care brands.

The focus of this collaboration will be on high-growth beauty and wellness startups that demonstrate significant consumer traction and unique offerings, as indicated in Nykaa’s regulatory filing with the stock exchanges.

Investment Approach of Nykaa and BOLD

Through this partnership, Nykaa and BOLD plan to obtain minority stakes in emerging brands via financial investments. The founders of these brands will maintain their operational and creative control while continuing to run their businesses independently, supported by their existing teams and brand identities.

Strategic Support and Guidance

In addition to financial backing, the two companies will offer strategic mentorship and guidance to assist startups in scaling their operations. This partnership aims to blend L’Oréal’s global beauty knowledge with Nykaa’s omnichannel retail network, comprehensive distribution capabilities, and in-depth understanding of Indian consumers.

Profile of BOLD and Nykaa

Established in 2018, BOLD invests in cutting-edge, high-growth startups that are part of the beauty value chain. Its investment interests cover two main areas: beauty and wellness brands, along with science and technology related to beauty.

On the other hand, Nykaa has been actively broadening its range of owned and acquired brands, such as Dot & Key, Kay Beauty, and Earth Rhythm. As of June 30, 2026, the company has catered to over 60 million customers via its online platforms and operates 324 offline beauty stores.