L’Oréal and Nykaa partner to invest in Indian beauty startups

L’Oréal’s corporate venture capital fund, BOLD, and Indian beauty retailer Nykaa have announced a collaboration to jointly invest in emerging Indian beauty and personal care brands. The partnership will focus on acquiring minority stakes in brands that have demonstrated consumer traction and unique product offerings.

Under the agreement, brand founders will retain operational and creative control, allowing them to manage their teams and company culture independently. The collaboration aims to provide investee brands with mentorship and strategic guidance. BOLD will contribute L’Oréal’s global beauty expertise, while Nykaa will offer insights from its retail and consumer ecosystem.

While the specific size of the investment corpus, the number of brands targeted, and the timeline for the first investment have not been disclosed, the move highlights the growing importance of the Indian beauty market. Jacques Lebel, Managing Director of L’Oréal India, noted the market's energy stems from evolving consumer needs and talented entrepreneurs.