 "Nykaa")
Beauty and wellness e-commerce firm Nykaa on Friday said that it will acquire digital content-cum-commerce firm Iluminar Media known by the brand name of Little Black Book (LBB).
FSN E-commerce, which operates under Nykaa brand name, did not disclose the deal value but said that the acquisition aligns with Nykaa's fundamental content-first approach to engaging with its loyal consumer base.
"We are excited about the strong synergies we share with LBB, because much like Nykaa, they have sharply focused on driving discovery and spotlighting promising home-grown brands across their channels since day one.
"We welcome their like-minded leadership into the Nykaa family and look forward to helping them scale, as together we better serve our audience base," Nykaa spokesperson Nihir Parikh said in a statement.
Co-founded by Suchita Salwan and Dhruv Mathur in 2015, LBB had a total revenue of Rs 19.44 crore in 2021-22.
Also Read
"The transaction will enable the company to strengthen its content delivery, drive discovery for brands and make shopping experience more engaging for the customers," Nykaa said in a regulatory filing.
Nykaa will acquire 100 per cent stake in LBB in an all-cash deal.
"Through this partnership with Nykaa, we're excited to scale to even greater heights. Together, we want to drive value to Nykaa and LBB's shared goals to build discovery for India's emerging brands through content, community and a discovery-first approach.
"LBB's robust content creation capabilities and creator network will be leveraged within Nykaa's platforms to drive consumer engagement and retention, further scaling reach and engagement for our brand partners," Salwan said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
