Nykaa, L’Oréal partner to invest in emerging Indian beauty brands 

INDIA – Nykaa and BOLD, L’Oréal’s corporate venture capital fund, have partnered to invest in India’s next generation of beauty, personal-care, and wellness brands. 

Under the partnership, Nykaa and BOLD will take minority stakes in selected brands that demonstrate strong consumer demand, clear market potential, and differentiated products. 

The investments will remain purely financial, allowing founders to retain ownership and continue controlling their companies’ operations, teams, and creative direction.

Anchit Nayar, Executive Director and CEO of Nykaa Beauty, said the partnership would combine Nykaa’s consumer ecosystem and retail network with L’Oréal’s international beauty knowledge.

The agreement comes as India’s beauty market attracts growing interest from global companies, retailers, and investors.

 Homegrown brands are expanding across skincare, haircare, colour cosmetics, personal care, and wellness, using direct-to-consumer websites, social media, online marketplaces, physical stores, and quick-commerce platforms to reach customers.

For emerging companies, access to capital is only one part of building a successful business. They also require distribution, retail visibility, supply-chain support, consumer data, category knowledge, and guidance on product development. 

The Nykaa-BOLD partnership aims to meet these needs by combining investment with strategic support.

BOLD will bring L’Oréal’s global beauty expertise, mentorship, international network, and knowledge of the wider beauty value chain. 

The fund, launched in 2018, invests in innovative companies across two main areas: beauty and wellness brands, and science and technology for beauty. 

Its minority-investment model enables companies to benefit from L’Oréal’s resources while maintaining their independence.

Nykaa will contribute its digital platform, physical retail network, distribution capabilities, and understanding of Indian beauty consumers. 

This support could help selected brands expand beyond digital-first operations and develop stronger omnichannel businesses that reach customers through websites, marketplaces, stores, and other retail channels.

The partnership also gives Nykaa a broader role in India’s beauty-startup ecosystem. Beyond selling products, the company will now have an opportunity to support promising brands from an earlier stage and help them gain access to a wider consumer base.

Jacques Lebel, Managing Director of L’Oréal India, said the collaboration would provide Indian entrepreneurs with capital and expertise while allowing them to build their brands independently. 

The initiative reflects a wider shift in India’s beauty industry, where funding, retail access, distribution, and brand-building expertise are becoming increasingly connected. By working together, Nykaa and BOLD could help emerging Indian brands scale faster, reach international markets, and retain the identity and independence that helped them grow.

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