Nykaa, L’Oréal’s BOLD Partner to Invest in Emerging Indian Beauty Brands
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Khushi Jain
- September 24, 2026
Beauty and fashion retailer Nykaa has partnered with BOLD (Business Opportunities for L’Oréal Development), the corporate venture capital fund of global beauty giant L’Oréal, to jointly invest in emerging Indian beauty and personal care brands.
The collaboration will focus on high-growth beauty and wellness startups with strong consumer traction and differentiated offerings, according to Nykaa’s regulatory filing with the stock exchanges.
Under the partnership, Nykaa and BOLD will acquire minority stakes in emerging brands through financial investments. Founders will retain operational and creative control of their businesses and continue to operate independently with their existing teams and brand identities, the disclosure added.
Beyond capital, the two companies will provide strategic mentorship and guidance to help startups scale their businesses. The partnership will combine L’Oréal’s global beauty expertise with Nykaa’s omnichannel retail network, distribution capabilities and understanding of Indian consumers.
BOLD’s Investment Focus
Launched in 2018, BOLD invests in innovative, high-growth startups across the beauty value chain.
Its investments span two verticals: beauty and wellness brands, and science and technology for beauty.
Nykaa’s Brand Portfolio and Retail Network
Nykaa has been expanding its portfolio of owned and acquired brands, including Dot & Key, Kay Beauty and Earth Rhythm.
As of June 30, 2026, the company served over 60 million customers through its online platforms and operated 324 offline beauty stores.
FAQs
1. What is Nykaa’s partnership with BOLD?
Nykaa and BOLD have partnered to jointly invest in emerging Indian beauty and personal care brands.
2. Which startups will the partnership focus on?
The partnership will focus on high-growth beauty and wellness startups with strong consumer traction and differentiated offerings.
3. What type of investments will Nykaa and BOLD make?
Nykaa and BOLD will acquire minority stakes in emerging brands through financial investments.
4. Will founders retain control of their businesses?
Yes. Founders will retain operational and creative control and continue to operate independently with their existing teams and brand identities.
5. How many customers did Nykaa serve as of June 30, 2026?
Nykaa served over 60 million customers through its online platforms and operated 324 offline beauty stores as of June 30, 2026.
