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Kiki World, a beauty brand that uses web3 for customer co-creation and ownership, raises $7M from a16z

TechCrunch · 1y ago

Beauty startup Kiki World has raised $7m in a seed round co-led by Andreessen Horowitz's crypto fund and The Estée Lauder Companies' New Incubation Ventures. Kiki aims to allow consumers to co-create products and co-own the company using web3 technology. By voting on product features, community members earn points for free products and receive digital tokens. Kiki's on-demand approach also prevents excess inventory and saves resources. Kiki has currently launched five product collections and plans to expand beyond the beauty industry in the future.

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Myntra is selling lipstick and blush. Should Nykaa be worried?

Livemint

Livemint · 1y ago

Myntra is selling lipstick and blush. Should Nykaa be worried?

Myntra, an Indian e-commerce company known for fashion, is expanding its presence in the beauty category to tap into the growing market. With an aim to be a lifestyle destination, Myntra has partnered with premium domestic and international beauty brands and invested in technology, personalization, and content to enhance the customer experience. However, it faces competition from established online beauty platform Nykaa, which has exclusive brand partnerships and strong customer engagement. Myntra's success in the beauty category hinges on building brand partnerships and establishing itself as a go-to platform.

Actor Kriti Sanon-Backed Hyphen Aims To Reach 1 Crore Customers Within 12 Months

OutlookIndia

OutlookIndia · 1y ago

Actor Kriti Sanon-Backed Hyphen Aims To Reach 1 Crore Customers Within 12 Months

Kriti Sanon, the actor and co-founder of D2C beauty brand Hyphen, takes her role as Chief Consumer Officer seriously and actively engages with customers. She reads product reviews, answers user queries on social media, and conducts "Ask Me Anything" sessions on Instagram. Hyphen aims to incorporate customer feedback and improve its products. The brand plans to expand its customer base through online advertising campaigns, partnerships with influencers, and strategic distribution on e-commerce platforms. Kriti's interest in skincare products and her desire for affordability and quality led to the birth of Hyphen, which aims to provide effective and accessible skincare to a broader audience.

Dubai-based Huda Beauty sells fragrance line KAYALI to co-founder and General Atlantic

VCCircle

VCCircle · 5m ago

Dubai-based Huda Beauty sells fragrance line KAYALI to co-founder and General Atlantic

Huda Beauty, a Dubai-based company founded by Huda, Mona, and Alya Kattan in 2018, has sold its fragrance line KAYALI to co-founder Mona Kattan and General Atlantic. This move allows Huda Beauty to buy back its stake from TSG Consumer Partners, aiming for full founder ownership. KAYALI will become an independent entity with Mona Kattan as CEO. The transaction value remains undisclosed, pending regulatory approval.

Jio Haptik launches Gen AI-powered customer experience platform Contakt

Economic Times

Economic Times · 1y ago

Jio Haptik launches Gen AI-powered customer experience platform Contakt

Jio Haptik has launched a customer experience suite called Contakt, which is powered by large language models (LLMs) and aims to enhance user experience and automate routine tasks. The suite includes features such as a generative AI assistant, agent co-pilot, and intelligent analytics to track and optimize customer outcomes. Contakt is capable of improving bot performance, reducing AI training efforts, and boosting customer satisfaction. Reliance Retail plans to integrate a generative AI beauty advisor chatbot on the Tira Beauty website using Jio Haptik's technology.

Voya Games Raises $5 Million with 1kxnetwork to Develop Player-Owned Web3 Game Craft World and Launch Angry Dynomites | DeepNewz VC

Business Bytes

Business Bytes · 2m ago

Voya Games Raises $5 Million with 1kxnetwork to Develop Player-Owned Web3 Game Craft World and Launch Angry Dynomites | DeepNewz VC

Voya Games has raised $5 million, co-led by 1kxnetwork, to develop games with player-owned economies on the Web3 platform. The studio aims to create games that incorporate asset volatility as a central gameplay loop. This approach contrasts with other crypto games that avoid integrating such volatility. The funding highlights 1kxnetwork's continued support for innovative gaming projects that offer true player ownership in evolving digital economies.

Nykaa has huge lead, edge to actively defend its turf: Founder Falguni Nayar

Economic Times

Economic Times · 1y ago

Nykaa has huge lead, edge to actively defend its turf: Founder Falguni Nayar

Indian retailer Nykaa, a major player in the fashion and beauty industry, is prepared to defend its position against competition from conglomerates and new entrants. Nykaa's founder and CEO, Falguni Nayar, stated that the company has a significant advantage in terms of brand recognition, customer base, and business knowledge. With the rapidly growing beauty e-commerce market in India attracting interest from large companies and conglomerates, Nykaa aims to stay focused and exceed customer expectations to retain its position. Nayar is optimistic about the future of beauty and fashion in India, citing the country's young and aspiring population and rising income levels as drivers of growth.

Nykaa Focusing On Faster But Not Ultrafast 10-Minute Deliveries

Inc42 · 8m ago

Nykaa Focusing On Faster But Not Ultrafast 10-Minute Deliveries

Nykaa, a beauty and wellness brand, is aiming to provide faster delivery for select high-demand beauty products, with a delivery window of 30 minutes to 2 hours. However, the company is still committed to maintaining a good customer experience for categories that require more time and consideration. Nykaa also wants to focus on fast-moving everyday essential products that are more suitable for quick delivery.

Sugar Cosmetics' VC backers eye exit; Azure Power may change hands

VCCircle

VCCircle · 1y ago

Sugar Cosmetics' VC backers eye exit; Azure Power may change hands

India-focused Malabar Investments is in talks to acquire a stake in Sugar Cosmetics through a secondary transaction worth approximately $10-13 million, as early investors of the beauty brand consider an exit. This deal would value Sugar Cosmetics at around $350 million. In other news, Azure Power, an Indian solar energy producer, is said to be exploring a potential change in ownership.

Brand Control and Data Ownership

Inshorts · 2m ago

D2C brands maintain complete control over their brand image and customer data, allowing them to tailor marketing campaigns and product development closely to consumer preferences. This direct ownership supports more agile decision-making. In contrast, B2C brands often have less influence over branding and limited access to customer data, since these functions are frequently managed by retailers.

Abu Dhabi wealth fund ADIA bets $120 mn more on Purplle

VCCircle

VCCircle · 1y ago

Abu Dhabi wealth fund ADIA bets $120 mn more on Purplle

Abu Dhabi Investment Authority (ADIA), the sovereign wealth fund, has invested an additional $120 million in Indian online beauty retailer Purplle. ADIA had also invested $50 million in the company last year. Purplle plans to use the funding to enhance its omnichannel offerings and improve customer experiences. The company, which competes with numerous beauty brands in India, including Nykaa and L'Oreal, reported a revenue of INR 475 crore ($64 million) for FY23. It also provided liquidity worth INR 50 crore to employees through an Employee Stock Ownership Plan.

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