Nykaa To Acquire LBB To Sharpen Its Position As A Discovery-led Retailer

This investment underscores Nykaa’s belief in the power of rich and unique content to catalyse consumer engagement

Nykaa, India’s leading beauty, fashion, and lifestyle destination, today confirmed Board approval for the acquisition of LBB (Iluminar Media Pvt Ltd), a millennial-focussed lifestyle discovery platform. This aligns with Nykaa’s fundamental content-first approach to engaging with its loyal consumer base. LBB’s large, discerning user base, content creation capability, curation mindset, and relationship with emerging brands makes it an attractive content powerhouse. Their focus on fashion, home and beauty categories fits well with Nykaa’s areas of strength.

As a multi-brand, omni-channel retailer offering endless aisles of authentic domestic and international brands, Nykaa’s market leadership in beauty and lifestyle has been the result of its core strengths: content-first approach, curation-led offering and discovery-led shopping experience. LBB’s strengths in these very areas will complement Nykaa and Nykaa Fashion’s vision to continually enrich their consumers’ shopping journey. 

Nykaa's commitment to offering relevant and compelling curations to shoppers comes to life through its sustained efforts in spotlighting unique and trendy brands and categories across its platforms. Nykaa Fashion's Hidden Gems offers a destination to distinct, homegrown fashion finds and the Conscious at Nykaa curation of cruelty-free, vegan and clean beauty products from across categories are two examples of Nykaa’s expertise in this realm that have added immense value to the consumer's journey of discovering the right products for them.

Co-Founded by Suchita Salwan and Dhruv Mathur in 2015, LBB (Little Black Book) has evolved from a Tumblr-blog to a buzzing online, curated marketplace. LBB has built a brand and audience amongst India’s urban millennials, reaching over 70 million users through their various channels. Their focus on audience engagement through content and discovery has made them a brand loved by their users and brand partners alike.

Nykaa spokesperson, Nihir Parikh said, “At Nykaa, we are committed to offering the best to our consumers and make their shopping experience delightful. We are excited about the strong synergies we share with LBB, because much like Nykaa, they have sharply focused on driving discovery and spotlighting promising homegrown brands across their channels since day one. We welcome their like-minded leadership into the Nykaa family and look forward to helping them scale, as together we better serve our audience base.”

Suchita Salwan, Co-Founder and CEO, LBB said, “Through this partnership with Nykaa, we’re excited to scale to even greater heights. Together, we want to drive value to Nykaa and LBB’s shared goals to build discovery for India’s emerging brands through content, community and a discovery-first approach. LBB’s robust content creation capabilities and creator network will be leveraged within Nykaa’s platforms to drive consumer engagement and retention, further scaling reach and engagement for our brand partners.”

Nykaa (FSN E-Commerce) was founded in 2012 by Indian entrepreneur Falguni Nayar with a vision of bringing inspiration and joy to people, everywhere, every single day. Derived from the Sanskrit word ‘Nayaka’, meaning one in the spotlight, Nykaa has emerged as one of India’s leading lifestyle focused consumer technologies platforms. Since its launch, Nykaa expanded its product categories by introducing online platforms Nykaa Fashion and Nykaa Man and Superstore by Nykaa. Delivering a comprehensive Omnichannel ecommerce experience, Nykaa offers more than 4000 brands through its website and mobile applications. The Nykaa Guarantee ensures that products available at Nykaa are 100% authentic and sourced directly from the brand or authorized retailers. Through engaging and educational content, digital marketing, social media influence, robust CRM strategies, and the Nykaa Network community platform, Nykaa has built a loyal community of millions of beauty and fashion enthusiasts.

#FathersDay - Here're 12 Entrepreneurs Telling Us The Tale of Their Superhero ‘Fathers’

The relationship with your father indeed is the strongest of all and you know him in and out.He was always there as a strong pillar when you needed him, heard you when you were low, praised you on your achievements. Father is not just our guardian but a mentor,24*7 advisor, consultant, problem solver and what not. When you decided to start out on your own, who was the one who believed beyond doubt that you will succeed? Your father, of course. Being an entrepreneur is hard, being a father is tougher. Here are few startup heroes telling us the tale of their superheroes ‘Fathers’.

‘My Father Is A True Source Of Inspiration For me’

For Rishab Malik, co-founder and Vice President-Business Development at Droom his father is the real hero in his life. He shares a special bond with his father as he was the one who instilled in him the importance of discipline and resilience to achieve our goals in life.

“He always taught us to be ruthlessly focused on achieving results, having the highest moral fibre and also having a Plan B or a contingency plan - all traits he himself picked up during his tenure with the Indian Army. Above all, he taught us the importance of having a good attitude and always thinking positive. He is a true source of inspiration for me in all facets of life be it being a sportsman, a professional or a family man,” says Malik.

‘Sometimes you just have to make your own way to get what you want'

Dhruv Mathur, co-founder at Little Black Book after moving back to India wanted to start his own startup in the payments space, called GetFbPay.in. Looking at local experiences through the lens of ticketing and transactions, his first startup gained significant momentum. However, he and his team decided to integrate with LBB in 2015, and you know who helped him in his vision, it was his father.

'Sometimes you just have to make your own way to get what you want' - this is not really a mantra, but a way of operating for my dad. He's always optimistic of getting what he wants, and never deterred if one way to meet an objective doesn't work out. There's always an alternative action to take, always different people to work with to meet your goal. Learning this MO (Modus Operandi) has made me a better founder, helped seal deals, raise funds, and getting the right people for our team,’ says Mathur.

‘Things Do Fall Into Place Sooner Rather Than Later’

Munmun Ganeriwal, a Nutrition and Exercise Consultant after working with renown contemporaries, she followed her dreams and started her own venture to spread the essence of fitness across. But before reaching the heights, Munmun had to face a lot of hardship which at times take her to the verge of quitting. During this phase, it was her father who held her hand and guided her to stay focused towards her goal.

“Everything is hard before it is easy”, my father often said, every time I was on the verge of losing my patience and giving up. It also made me an optimistic person as it implied that things do fall into place sooner rather than later.I have grown up learning the golden mantra from him that “One can excel only when one puts their heart and soul into their work”. Migrating from MIT Engineering College, from a “highly coveted” course to a “not so well known” course to pursue my passion & study Nutrition and Fitness, also work & train clients after college hours to start my professional journey, all at the age of 20, thus came very naturally to me,” says Munmun.

A Perfectionist Father

Chinmay Bhatt strongly believes that entrepreneurs are a product of strong and rooted parenting. They are not people with overnight success riding on an investment betting wave by venture capitalists. They are individuals with immense mental strength and self-discipline.

Bhatt father is very high on self-discipline. He shares that every small task he takes up, he gives it a 100%. Right from filling water bottles, polishing shoes, even fixing a fuse or renovating the kitchen for Diwali. Bhatt says if his father was involved, he would go in the minutest of the details and do it with utmost cleanliness and perfection.

“We were painting a wall together once, he was doing double coats and I was running out of patience (as I had to go to play cricket). When he saw me edgy, he quoted -- I can't sleep well, if deep down my heart I know I could have done it better. Can you? Though perceived perfectionism is a problem for many and holds them back. Time spent with my dad has evolved me to be active and perfection-oriented along with a sensible balancing,” shares Bhatt, Chief Marketing Officer at Shopholix.

‘If Everyone Is Moving Forward Together, Then Success Takes Care Of Itself’

Having grown up on the backseat of her dad's impromptu motorcycle trips and hour long breakfast discussions, Mitali Tandon has been in close proximity of watching her father personal and professional journey of being a successful entrepreneur, a respected industry expert and a great leader. As an entrepreneur, Tandon, every time when she is at a crossroads, she can't help but reflect on the way her dad met his challenges.

“My father doesn't have to try hard really, it's been all the little things that happen on a daily basis that add up to superhero status. One of the biggest take-away's, for me, has been his leadership style. He is the most inclusive and collaborative leader. Everyone that has worked with and around him has been prosperous and grown consistently. His strong vision and ability to carry people has impacted the way I build my team and interact with my partners, an ability that's particularly relevant in today's competitive world. My father and I strongly believe in a quote by Henry Ford - If everyone is moving forward together, then success takes care of itself.” shares Tandon, co-founder of Morning Fresh, post drinking anti-hangover detox drink.

'Be Witty'

Shishir Gupta, CEO at Oakter believes that he has got two most defining traits of his personality from his dad. One is forgetfulness and other is wit. He learned from him that there is only one right perspective to look at this world and life in general and that is the witty perspective.

On asking Gupta about the relationship he shares with his father, he said “I remember an incident, my dad once called one of my friends. He didn't have my dad's number so he asked ‘Aap kaun?' and he replied 'Rishte main to hum Shishir ke baap lagte hain.’ My friend almost died laughing. Both these perspective really helps in a stressful situation as an entrepreneur and help in keep moving forward. One thing that I haven't inherited from him is his altruism.He really makes me wonder how can anybody dissolve boundaries between self and non-self to such an extent. To me, it just looks crazy. Perhaps someday I will grow up to understand.”

‘Never Leave Anything Undone And Incomplete’

FitPass Co-founder, Arushi Verma’s father has given her golden mantra to always believe in herself and never leave anything undone and incomplete. “He told me to focus on my aim to set an example for others. Two years ago when I decided to start FITPASS he asked me to lead from the front and be confident of myself and my decisions.He always showed me a positive way and helped me look at mistakes as lessons in life,” shares Verma.

‘Believe In Yourself’

For Tapan Dixit, CEO and co-founder at Talespin his father has been a huge inspiration to him. The best lesson he has learned from his father is to always believe in yourself. “Looking back, it’s so important than being the best in class or winning every battle. When I was a young boy, I remember my father telling me that there’d be times when I would fail, or when things won’t turn out the way I’d ideally like them to and it’d be in times like these that I’d have to stay strong and believe in myself. Success comes with self-belief and perseverance,” says Dixit.

‘Put Blinders On The Sides That Conspire You To Hold Back’

Surabhi Mittal is the creative trigger behind Revived by Surabhi, a Ghaziabad-based home décor design label that focuses on reviving old traditional techniques and dying arts while celebrating the power of hand making. For Mittal, her father means the entire world.

On asking her, how his father inspired her, she said, “The best advice given by my father was to simply put blinders on the sides that conspire you to hold you back. He constantly reminded me to not think what the world is thinking about you. His golden mantra was that dreams are not what you see in sleep, they are something that does not let you sleep. He used to tell me that you are my fish who will swim in a unique direction and will not follow the school of fish. Following his precious advice and support, I have been able to start my own business and in a continuous process to achieve great heights.''

‘Small Signs Reveals Big Things About People’

Instappy founder Ambika Sharma shares a special bond with her father. Her father has taught her about the small aspect of life which contributes to a greater extent in a life. “He taught me to have strength, to listen, to pay attention to the small signs which reveal big things about people, my love for adventure and above all he taught me that anything is possible to achieve, you have to believe that you can and you have to be willing to work hard for it,” says the founder.

‘Balance Work And Life While Aspiring For Excellence In Both’

For Lakshmi Dasaka, his father has played an integral part in her upbringing. It was her father who helped her to stay true to her goals and manage time effectively and therefore today she is the co- founder of Goodness, that aims to bring the café experience right to your doorstep.

“Being an army officer, my father was very discipline.I have never seen my father complain about his work schedule or pressure. Work truly is worship for him. He is 65 years old and still has a 14-18 hour work day and a very fit and active lifestyle. As an entrepreneur and a mother, this is an everyday inspiration for me to balance work and life while aspiring for excellence in both,” shares Dasaka.

‘Always Be Passionate’

Two years ago when Jimmy decided to start his own business, it was her father who stood by her and told her to respect her decision and never lose faith in what she decided to take forward. He has always been her source of inspiration whenever she face any challenge in her life.

Jimmy Kaul, M.D and co-founder of Shopotox says "The best advice my father ever gave me was to always believe in your instincts and be passionate for what you set to achieve. He said that this is true that there will be many hurdles in the way but never give up and you continue your struggle until you succeed. In life, you need to be strong enough to stand against the odds. He told me to be financially independent to take care of my needs ".So, what are your dad’s mantra which keeps you going? Do share with us in the comment box below. Also, this year do go on a date with your dad and spend some quality time and go down the nostalgic lane while enjoying your meal.

So, what are your dad’s mantra which keeps you going? Do share with us in the comment box below. Also, this year do go on a date with your dad and spend some quality time and go down the nostalgic lane while enjoying your meal.

[Top-most Image - Shutterstock]

Little Black Book Raises $1.2M From IDG Ventures India and Indian Angel Network

Little Black Book, a media-tech enterprise based out of New Delhi, has raised $1.2 million from IDG Ventures India and Indian Angel Network. Reaching out to over 1 million users every month, Little Black Book is currently available in Delhi and Bangalore as a website and app, and gives a local audience the best things to do in their city across interests and locations.

Little Black Book (LBB) curates recommendations across categories, providing unique local discoveries in innovative formats. An evolution from existing listingbased models, LBB uses content as a medium to drive an engaged audience to local enterprises, places and experiences. They partner with local small to medium scale brands as well as large global brands looking to engage with a local audience including Coca Cola, Airbnb, HTC, Samsung, Nestle.

Founded by Suchita Salwan, an Economics graduate from Hindu College who has worked with Wizcraft and the BBC, and co-founded by Dhruv Mathur, a Carnegie Mellon graduate who has worked with Deloitte and on his own startup GetFBPay.in, Little Black Book has seen tremendous organic growth stemming from a strong product market fit. “We have proven that urban consumers want to move beyond traditional Yelp-esque listing and aggregator platforms; they seek more than just food and event discoveries. As a media-tech business, our north star has been driving not just monthly active users, but delivering a product that draws a highly engaged and sticky audience” says Suchita.

Karan Mohla, Executive Director and Head of Consumer Tech & Media at IDG Ventures says “LBB represents the type of new-age disruptive digital media company that we as venture investors are excited to partner with. LBB has created an immersive and engaged platform for consumers and brands across Delhi and Bangalore today and expanding that to five more cities in the near future. Suchita and Dhruv are the foundational cornerstones of this exciting company and have demonstrated great focus and passion to build out a strong technology platform.”

Little Black Book raised a seed round in May 2015, with prolific angels including Rajan Anandan (MD Google Asia), Sachin Bhatia (co-founder MakeMyTrip, TrulyMadly) and Niraj Singh (co-founder Outbox Ventures, Spinny) participating. In just about 8 months since, LBB has seen over 800% growth in monthly active users and over 600% growth in revenue.

The company’s vision is to connect urban consumers to the best things to do, for them, in their city. “We’re excited to build out a platform that intelligently recommends experiences that are suited to a unique users tastes and preferences. Personalization and user retention is our key focus with respect to product” adds Dhruv.

Rishabh Mehta, one of the lead investor in this round and IAN nominated Board Director has this to say- “What is interesting about LBB is that their unit economics is just brilliant. With a small team and minimal burn they have been able to build a pretty impressive brand image for themselves. Considering the fact that they have over 1 million users engaged across just 2 cities, now the potential is huge for scaling up not only in India but globally.”