Magnificence and fashion retailer Nykaa has partnered with BOLD, the company enterprise capital fund of L’Oréal, to collectively spend money on rising Indian magnificence and personal care manufacturers.

The 2 corporations will take minority stakes in high-growth magnificence and wellness manufacturers which have established client traction and differentiated choices, in accordance with a regulatory submitting by Nykaa.

The investments will probably be monetary and minority in nature, with founders retaining operational and inventive management of their companies. The manufacturers will proceed to function independently with their current groups, tradition and inventive path.

Past offering capital, Nykaa and BOLD will provide mentorship and steerage to the businesses they again. The partnership will carry collectively L’Oréal’s world beauty experience and Nykaa’s omnichannel retail community and understanding of Indian shoppers.

The businesses mentioned the intention was to assist Indian magnificence founders scale their companies and construct brands for home and worldwide markets.

Nykaa and L’Oréal deepen partnership

Jacques Lebel, Managing Director of L’Oréal India, mentioned India was “one of the crucial thrilling magnificence markets on this planet”, pointing to altering client wants and the nation’s rising neighborhood of entrepreneurs.

He mentioned BOLD and Nykaa will assist founders with capital, mentorship and L’Oréal’s magnificence experience whereas permitting them to retain management over how their companies develop.

Anchit Nayar, Govt Director and CEO of Nykaa Magnificence, mentioned: “Nykaa and L’Oreal have been companions in India for over a decade.”

Nayar mentioned the expertise gained from that relationship had helped Nykaa perceive the challenges concerned in constructing a promising model into a permanent enterprise.

He mentioned Nykaa’s client ecosystem, retail community and distribution capabilities, mixed with L’Oréal’s world magnificence experience, may assist the subsequent era of Indian client manufacturers.

What’s BOLD?

BOLD, quick for Enterprise Alternatives for L’Oréal Growth, was launched in 2018 as L’Oréal’s company enterprise capital fund.

It makes minority investments in progressive, high-growth companies throughout the wonder worth chain. Its investments embody magnificence and wellness manufacturers in addition to corporations working in science and know-how for magnificence.

Alongside funding, BOLD supplies portfolio corporations with entry to L’Oréal’s magnificence experience, world community and mentoring whereas preserving their independence.

L’Oréal launched BOLD as a part of its wider technique of working with startups and rising companies. The French magnificence group has a portfolio of 40 worldwide manufacturers and employs greater than 95,000 folks.

L’Oréal recorded gross sales of €44.05 billion in 2025, up 4% on a like-for-like foundation and 1.3% on a reported foundation.

Nykaa expands its magnificence ecosystem

Nykaa started in 2012 as a digital-first magnificence firm and has since expanded into bodily retail, style and B2B commerce.

Its companies embody Nykaa Style, Nykaa Man and Nykaa Superstore. The corporate has additionally entered the Center East by means of Nysaa, its omnichannel magnificence retail providing within the area.

Nykaa has constructed its personal portfolio of client manufacturers, together with Nykaa Cosmetics, Dot & Key, Kay Magnificence, Nykaa Collections, Nykaa Wanderlust, Nykaa Perfumes and Earth Rhythm. Its style labels embody Nykd by Nykaa, KICA, 20 Clothes, RSVP and Gajra Gang.

As of 30 June 2026, Nykaa mentioned it had served greater than 60 million prospects by means of its on-line platforms and had 324 offline magnificence locations.

The partnership with BOLD offers Nykaa and L’Oréal a joint funding route into rising Indian magnificence companies whereas permitting the founders of the businesses they again to proceed working their manufacturers independently.