Nykaa raises ₹100 crore; suspends operations amid lockdown

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Nykaa raises ₹100 crore; suspends operations amid lockdown

Apr 01, 2020 12:47 IST

Online cosmetics and beauty products retailer Nykaa announced on Tuesday that it has raised ₹100 crore from existing investor Steadview Capital. It also informed its vendors that it has suspended its operations and shut down retail stores and offices due to the lockdown to tackle the Covid-19 outbreak in India. However, a post on their website said that they will be accepting prepaid orders for daily essentials and personal hygiene products in Mumbai, Pune, New Delhi and Bengaluru. In a statement, the company also shared that its cash flow and income have been impacted due to the coronavirus crisis.

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