Nykaa and BOLD (Business Opportunities for L’Oréal Development), the corporate venture capital fund of L’Oréal, have announced a collaboration to support the next generation of Indian beauty and personal care brands.
The partnership will focus on fast-growing brands with strong consumer traction and distinctive market propositions. As part of the collaboration, Nykaa and BOLD will take minority stakes in selected emerging businesses.
Importantly, the investments will remain purely financial and minority in nature. Founders will retain ownership and operational control of their brands. They will also continue to manage their teams, culture and creative direction independently.
Combining Capital with Beauty Expertise
Beyond funding, BOLD and Nykaa will work as long-term partners with the brands they support. The collaboration will provide founders with mentorship, strategic guidance and access to global beauty expertise.
L’Oréal will contribute its international beauty industry experience. Meanwhile, Nykaa will bring its omnichannel retail network and understanding of Indian consumers.
The partnership aims to help Indian beauty entrepreneurs scale their businesses and build brands for both India and international markets.
Jacques Lebel, Managing Director, L’Oréal India, said: “India is one of the most exciting beauty markets in the world, and its energy comes both from an expanding base of demanding consumers with rapidly evolving needs and from its ecosystem of tremendous entrepreneurs. Through BOLD and this partnership with Nykaa, we want to stand behind that talent — backing founders with capital, mentorship, and L’Oréal’s beauty expertise, while leaving them free to build their brands their way. Our commitment to India is stronger than ever, and this is the next major milestone in a journey of partnership and growth that we began over three decades ago.”
Anchit Nayar, Executive Director and CEO, Nykaa Beauty, said: “Nykaa and L’Oréal have been partners in India for over a decade, working together on our shared vision of making India into one of the world’s largest and fastest growing beauty markets. The experience and lessons we have learned along the way have allowed us to understand what it takes to build a promising brand into an enduring one. Combining our strong consumer ecosystem, deep retail network and wide distribution, along with L’Oréal’s global beauty expertise will be an incredibly valuable asset to the next generation of founders as they look to build consumer brands that India can be proud of.”
Supporting India’s Beauty Startup Ecosystem
The collaboration comes as India’s beauty and personal care sector continues to see new brands and entrepreneurial activity. By combining financial support with retail knowledge, consumer insights and global beauty expertise, Nykaa and BOLD aim to support founders through different stages of brand development.
The partnership also reflects a model where emerging beauty businesses can access strategic resources while maintaining independent ownership, teams and creative control.
