Nykaa and L’Oréal’s BOLD fund to co-invest in Indian beauty brands
Mumbai-based Nykaa has partnered with L’Oréal’s corporate venture arm, BOLD, to jointly back beauty and personal care startups in India. The collaboration was disclosed in a regulatory filing, though details on investment size or target brands remain undisclosed.
Sources: economictimes.indiatimes.com
“The tie-up signals growing corporate interest in India’s fragmented beauty market, where local brands often outpace multinationals in digital adoption.”
What it means
Corporate venture funds like BOLD rarely co-invest with local players, making this a potential template for how global incumbents can tap into India’s D2C boom. The move could pressure standalone VC funds to sharpen their theses or risk being sidelined in later-stage deals. Whether Nykaa’s retail network becomes a distribution channel for portfolio brands—or a rival—will be worth watching.
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- Nykaa, L’Oréal's venture fund tie up to invest in Indian beauty brands — economictimes.indiatimes.com
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