L’Oréal BOLD, the corporate venture fund of L’Oréal, and Indian beauty retailer Nykaa have partnered to back up-and-coming beauty, wellness and personal care brands in the country.
The pair will jointly invest in fast-growing Indian beauty brands, taking minority stakes that leave founders with full control over the business.
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Beyond the financial backing, L’Oréal BOLD and Nykaa will also offer mentorship, guidance and the opportunity to benefit from each company’s expertise – L’Oréal’s global reach, and Nykaa’s retail network.
The partnership is designed to help scale Indian beauty brands faster, including their global reach.
“India is one of the most exciting beauty markets in the world, and its energy comes both from an expanding base of demanding consumers with rapidly evolving needs and from its ecosystem of tremendous entrepreneurs,” said Jacques Lebel, Managing Director, L'Oréal India.
“Through L’Oréal BOLD and this partnership with Nykaa, we want to stand behind that talent, backing founders with capital, mentorship, and L'Oréal's beauty expertise, while leaving them free to build their brands their way.
“Our commitment to India is stronger than ever, and this is the next major milestone in a journey of partnership and growth that we began over three decades ago.”
L’Oréal has already invested in India’s growing beauty ecosystem in recent years.
In January, the beauty giant announced it is investing €350m over the next five years to create its first global Beauty Tech Hub, which will be located in the city of Hyderabad, India.
L’Oréal’s Big Bang Beauty Tech Innovation Programme, which supports start-ups on commercial pilots in South Asia Pacific, Middle East and North Africa (SAPMENA), has entered its third year.
India has become a sought-after beauty market in 2026, amid a boom in investment and attention from global businesses.
Premium Indian brand RAS Luxury Skincare received a minority investment from conglomerate Dabur, and beauty retailer Nykaa confirmed talks on a potential acquisition of Indian skin care brand 82°E.
Unilever invested in perfume brand Secret Alchemist and skin care brand SkinInspired in January, and Estée Lauder Companies acquired skin care business Forest Essentials in March as part of a “long-term commitment to India”.
L’Oréal India is also allegedly in talks to take a majority stake in beauty company Innovist.
Anchit Nayar, Executive Director and CEO, Nykaa Beauty, said: “Nykaa and L'Oréal have been partners in India for over a decade, working together on our shared vision of making India into one of the world's largest and fastest-growing beauty markets.
“The experience and lessons we have learned along the way have allowed us to understand what it takes to build a promising brand into an enduring one.
“Combining our strong consumer ecosystem, deep retail network and wide distribution, along with L’Oréal’s global beauty expertise will be an incredibly valuable asset to the next generation of founders as they look to build consumer brands that India can be proud of.”
