The partnership will see the two companies take minority stakes in selected beauty and personal care brands, while founders retain control and continue to operate their businesses independently. Nykaa and Business Opportunities for L’Oréal Development (BOLD), L’Oréal’s corporate venture capital fund, have joined forces to invest in emerging Indian beauty and personal care brands, according to a Business Standard report.
Under the partnership, Nykaa and BOLD will make financial investments in selected brands by acquiring minority stakes. The founders will retain ownership of their businesses and continue to run them independently. Beyond capital, the partnership is also designed to give participating founders access to mentorship and guidance as they scale their brands.
The collaboration brings together Nykaa’s consumer-facing ecosystem, retail presence and distribution capabilities with L’Oréal’s global beauty expertise. Both companies have been partners in the Indian market for more than a decade, and the new initiative extends that relationship into backing the next generation of beauty businesses.
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,” Lebel added.
Anchit Nayar, executive director and CEO, Nykaa Beauty, said: “Nykaa and L’Oreal 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.” He added that the combination of Nykaa’s consumer ecosystem, retail network and distribution with L’Oréal’s global beauty expertise could support founders as they work to build and scale their brands.
The investment initiative gives both companies a route to participate in the growth of emerging Indian beauty businesses while keeping founders at the helm of their respective brands.
