Nykaa, an online retailer of beauty products, declared that the board of directors had approved the purchase of Little Black Book (LBB), a digital content platform, for full cash. The publicly traded startup chose not to reveal the deal’s financial details. The transaction is anticipated to complete in 60 days, subject to a number of regulatory approvals. As a result of the transaction, Nykaa will have access to LBB’s brand discovery and content distribution platform. In addition, Nykaa will be able to scale operations while utilising LBB’s creative network to boost customer engagement and retention. Additionally, it will enhance the discovery- and curation-driven buying experiences on the beauty eCommerce site.
Nykaa to acquire digital content platform ‘Little Black Book’ in order to increase customer engagement
