Beauty and wellness e-commerce firm Nykaa on Friday said it will acquire digital content-cum-commerce firm Illuminar Media, known under the brand name Little Black Book (LBB).
FSN E-Commerce, which operates under the Nykaa brand name, did not disclose the value of the deal but said the acquisition fits with Nykaa’s fundamental content-first approach to engage with its loyal customers.
“We are excited about the strong synergies we share with LBB, because like Nykaa, they have been intensely focused on driving promising home-grown brands to innovate and spotlight across their channels from day one.
“We welcome his like-minded leadership to the Nykaa family and look forward to helping him, as together we better serve our audience,” Nykaa spokesperson Nihir Parikh said in a statement.
Co-founded by Suchita Salwan and Dhruv Mathur in 2015, LBB had gross revenues of ₹19.44 crore in 2021-22.
“This transaction will enable the company to strengthen its content delivery, increase discoverability for brands and make the shopping experience more engaging for customers,” Nike said in a regulatory filing.
Nykaa will acquire 100 percent stake in LBB in an all cash transaction.
“Through this partnership with Nykaa, we are excited to scale even greater heights. Together, we want to add value to Nykaa and LBB’s shared goals of building discovery for India’s emerging brands through a content, community and discovery-first approach.
“LBB’s robust content creation capabilities and creator network will be leveraged on Nykaa platforms to increase customer engagement and retention, further scaling reach and engagement for our brand partners,” Salwan said.