Nykaa and Business Opportunities for L’Oréal Development (BOLD), L’Oréal’s corporate venture capital arm, have partnered to invest in emerging Indian beauty and personal care brands, according to a Business Standard report.
The two companies will acquire minority stakes in select brands, with founders retaining full ownership and continuing to run their businesses independently. Beyond capital, the partnership will offer mentorship and guidance to help these brands scale.
Jacques Lebel, managing director, L’Oréal India, called India “one of the most exciting beauty markets in the world,” pointing to its growing base of consumers with evolving needs alongside a strong entrepreneurial ecosystem. He said BOLD’s partnership with Nykaa is designed to back founders with capital, mentorship, and L’Oréal’s beauty expertise, while leaving them the freedom to build on their own terms – describing it as the next milestone in a partnership with India that began over three decades ago.
Anchit Nayar, executive director and CEO, Nykaa Beauty, noted that Nykaa and L’Oréal have worked together in India for over a decade toward building one of the world’s largest beauty markets, and that this experience has shaped their understanding of what it takes to turn a promising brand into a lasting one. He added that pairing Nykaa’s consumer ecosystem, retail network and distribution with L’Oréal’s global expertise would give the next generation of founders the support needed to build brands India can be proud of.
The move signals deepening consolidation interest in India’s fast-growing indie beauty space, as global majors look to back homegrown talent early.
