Nykaa and BOLD (Business Opportunities for L’Oréal Development), L’Oréal’s corporate venture capital fund, have announced a collaboration to jointly invest in the next generation of Indian beauty and personal care brands.
Under the partnership, BOLD and Nykaa will take minority stakes in emerging beauty and wellness brands that have demonstrated consumer traction and have distinctive propositions. The investments will remain minority and financial in nature, with founders retaining ownership and operational control of their businesses, including their teams, culture and creative direction.
Beyond capital, the two companies will provide the brands they invest in with mentorship and strategic guidance. The partnership will combine L’Oréal’s global beauty expertise with Nykaa’s omnichannel retail network and understanding of the Indian consumer ecosystem, with the stated aim of supporting founders as they scale their businesses in India and international markets.
Jacques Lebel, Managing Director, L’Oréal India, said: “India is one of the most exciting beauty markets in the world, and its energy comes both from an expanding base of demanding consumers with rapidly evolving needs and from its ecosystem of tremendous entrepreneurs. Through BOLD and this partnership with Nykaa, we want to stand behind that talent — backing founders with capital, mentorship, and L’Oréal’s beauty expertise, while leaving them free to build their brands their way. Our commitment to India is stronger than ever, and this is the next major milestone in a journey of partnership and growth that we began over three decades ago.”
Anchit Nayar, Executive Director and CEO, Nykaa Beauty, said: “Nykaa and L’Oréal have been partners in India for over a decade, working together on our shared vision of making India into one of the world's largest and fastest growing beauty markets. The experience and lessons we have learned along the way have allowed us to understand what it takes to build a promising brand into an enduring one. Combining our strong consumer ecosystem, deep retail network and wide distribution, along with L’Oréal’s global beauty expertise will be an incredibly valuable asset to the next generation of founders as they look to build consumer brands that India can be proud of.”
Launched in 2018, BOLD invests across the beauty value chain through minority stakes in innovative and high-growth startups. Its investment focus spans Beauty and Wellness Brands as well as Science and Tech for beauty. Alongside financial support, the fund provides access to L’Oréal’s global network, beauty expertise and mentoring while maintaining the independence of the companies it backs.
