Beauty and wellness e-commerce firm Nykaa on Friday said it will acquire Illuminar Media, a digital content-cum-commerce firm 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 aligns with Nykaa’s fundamental content-first approach to engaging with its loyal consumer base.
“We are excited about the strong synergy with LBB because, like Nykaa, they have focused on finding and spotlighting promising homegrown brands across their channels from day one.
“We welcome his like-minded leadership to the Nykaa family and look forward to helping him in a big way, as together we better serve our audiences,” Nykaa spokesperson Nihir Parikh said in a statement.
Nykaa will acquire 100 per cent stake in LBB in a cash deal and the transaction will help the company strengthen its content distribution, boost discovery for brands and make the shopping experience more engaging, Nykaa’s said in a regulatory filing.
“Through this partnership with Naykaa, we are excited to reach even greater heights. Together, we aim to build content, community and discovery for India’s emerging brands through a search-first approach. Nykaa and LBB seek to increase value for the common goals.
Little Black Book (LBB) Founded in 2012, by Dhruv Mathur and Suchita Salwan, LBB engaged in search and discovering highly recommended places, products, local experiences & much more.
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