Nykaa acquires Little Black Book

The acquisition would help Nykaa to strengthen its content delivery, drive discovery for brands and make shopping experience more engaging for the customers, the company said in a regulatory filing.

Nykaa acquires Little Black Book
The transaction is expected to be completed within 60 days of execution.

Nykaa’s parent company FSN E-Commerce Ventures has acquired 100% stake in lluminar Media, known as Little Black Book (LBB).

LBB is involved in the business of running and operating a digital platform and a mobile application that serves as a lifestyle guide and recommendation platform. The acquisition would help Nykaa to strengthen its content delivery, drive discovery for brands and make shopping experience more engaging for the customers, the company said in a regulatory filing.

“This aligns with Nykaa’s fundamental content-first approach to engaging with its loyal consumer base. LBB’s large, discerning user base, content creation capability, curation mindset, and relationship with emerging brands makes it an attractive content powerhouse. Their focus on fashion, home and beauty categories fits well with Nykaa’s areas of strength,” the company said.

Also Read| Nykaa profit jumps 42% to Rs 5 crore, revenue up 41% at Rs 1,148 crore

The transaction is expected to be completed within 60 days of execution.

LBB reported turnover of Rs 19.44 crore in FY22 and Rs 9.13 crore in the year before that.

Little Black Book or lluminar Media, was valued at $17.1 million as of January 2021, when it last raised a $890,000 round from Inventus Capital India and Chiratae Ventures, according to data from Tracxn. It has raised a total of $8.39 million so far.

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