New Delhi: Beauty and wellness e-commerce firm hero on Friday said it will acquire digital content-cum-commerce firm Illuminar Media, which goes by 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 engage 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.
Co-founded by Suchita Salwan and Dhruv Mathur in 2015, LBB had a total revenue of Rs 19.44 crore in 2021-22.
“The transaction will enable the company to strengthen its content delivery, boost discovery for brands, and make the shopping experience more engaging for customers,” Nykaa said in a regulatory filing.
Nykaa will acquire 100 per cent stake in LBB in an all-cash deal.
“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.
“LBB’s strong content creation capabilities and creator network will be leveraged within Nykaa’s platform to drive consumer engagement and retention, and increase reach and engagement for our brand partners,” Salwan said.