Indian-based beauty, wellness and fashion product eCommerce retailer Nykaa has rolled out a new superstore for direct-to-retailer distribution for the Indian retailer system, Business Standard reported Wednesday (April 6).
Through the Nykaa Superstore app, retailers in Gujarat will be able to access a wider range of beauty, personal care and wellness products on a single platform. It will also give retailers the freedom to order “100% genuine” products as much and as often as they need, delivered to their doorsteps.
Nykaa touts its transparency in pricing and offers alongside its easy returns, which the company said makes it “dependable.”
Superstore will also help retailers understand what products are popular in their localities, check new offers and profit margins for SKUs and choose the quantity while purchasing. According to the report, the app also allows brands to run trade schemes for their SKUs and offers credit facilities to retailers.
Last year, PYMNTS wrote that Nykaa had been readying an initial public offering (IPO) that would value the company at over $ 4 billion, according to a report.
Read more: India Lifestyle Retailer Nykaa Eyes $ 4B Valuation In IPO
The startup was looking at filing its draft in red herring prospectus (DRHP), which is the preliminary registration document drawn up by merchant bankers that includes details about the company’s business operations, financials and status in the industry.
The report said Nykaa intended to sell a bit over 10% of the equity, which would raise $ 400 million or higher.
Around the same time, PYMNTS also wrote that global investment firm KKR had spent $ 625 million to buy a majority stake in Vini Cosmetics, with the goal there to scale the startup’s presence in Asia and other markets in the region.
See also: KKR Pays $ 625 Million For Controlling Stake In India’s Vini Cosmetics
KKR has invested around $ 5.7 billion of equity in Indian companies over the past 15 years.