Another acquisition marks its space in the e-commerce domain. The Indian retailer of beauty & fashion products Nykaa has announced on Monday that it has acquired the jewellery brand Pipa Bella.
The acquisition is a simple horizontal integration where the e-commerce platform has tried to tap the market by making it more lucrative option having less competition. The insights into acquisition can be looked upon by getting into the article.
DETAILS ABOUT ACQUISITION
Pipa Bella will offer services on its own website prior to the acquisition decision. The portfolio although will be extended to the fashion platform. This step is done in order to address the demands of jewellery that has seen a rise in the recent times. People have tried to develop a special taste for casual & unorganized pieces that add more trendy vibe to the entire look.
Adwaita Nayar, chief executive officer, Nykaa Fashion and founding team member, Nykaa disclosed the intention of this move by stating that
“We have seen a rising trend of personalized, minimalistic and premium fashion accessories in the Indian market. At Nykaa Fashion, we strive to bring the best quality and variety of such products to meet the demand of the audience,”.
The founder of Pipa Bella, Shuchi Pandya also underlined that this association will allow us to reach a larger base of audience that visit Nykaa every month.
The interesting fact is that Nykaa is in mood to acquire more & more brands as well as looking to go more into offline expansion. In 2019; it acquired twenty dresses in order to make a strong hold on private label. Nykaa is expected to go for public listing in the coming times.
BACKGROUND OF NYKAA
It was founded in the year 2012 by Falguni Nayar which is an online shopping platform that earned unicorn status in the year 2020. The company’s website claims to provide more than 3 lakh products across 1500 major brands. It functions as an omnichannel distribution. The factual details of the platform are:
More than 55 lakh monthly visits
More than 13 Lakh orders per month
104 products sold every minute
DETAILS INTO PIPA BELLA
The brand is a digital fashion brand that deals in more than 1500 styles that offer unique, quality assured & affordable pieces at a reasonable price range. They provide fashion jewellery items that is made up of crystal, resin, metal, stone or bead jewellery. It secured its early funds from Fireside Ventures in the year 2018.
The e-commerce platforms that target beauty & lifestyle products will continue to see a growth in coming times. This is predominantly due to the change in tastes of consumers and also the growing reliance on digital platforms to pursue purchases. Nykaa has surely redefined passion and is looking forward to get more & more brands under the umbrella to offer a holistic solution to its customers.