According to The Business of Fashion, L’Oréal’s venture capital fund BOLD will collaborate with Nykaa to invest in early-stage beauty and personal care brands in India.
The report said the partnership is aimed at backing the next generation of Indian beauty businesses, bringing together the French cosmetics group’s investment arm and the Indian retailer’s market presence.
Nykaa has become one of India’s best-known beauty and personal care retail platforms, while L’Oréal has used BOLD to support emerging brands and innovation-focused ventures.
The latest tie-up adds to the growing attention global consumer companies are giving to India’s beauty and personal care market, including groups in the Gulf that track retail and distribution opportunities across the country.
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