FMR has bought a secondary stake in fashion and beauty marketplace Nykaa, which already counts Max Group and TVS as shareholders.
Investment and financial services firm Fidelity Management and Research has invested an undisclosed sum in India-based fashion and beauty marketplace Nykaa through a secondary transaction, the Economic Times has reported.
Nykaa runs a beauty e-commerce platform where consumers can purchase goods from more than 1,000 brands and receive tips on achieving an elegant look through magazine and video content.
The company said its foothold in Indian beauty products has grown due to larger online consumer spends during the covid-19 pandemic.…
