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Submitted URL: https://thefederal.com/business/nykaa-set-to-take-over-e-commerce-platform-little-black-book/#:~:text=Indian
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The Federal
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Home Business
 


NYKAA SET TO TAKE OVER E-COMMERCE PLATFORM LITTLE BLACK BOOK

The companies have been in talk for a couple of months, announcement yet to be
made official

The Federal

6:07 AM, 21 June, 2022 Updated 10:33 PM, 20 June, 2022
0
COMMENTS
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Beauty platform beefs up its acquistion game

Indian cosmetics company Nykaa is set to take over local e-commerce platform
Little Black Book (LBB), which is backed by Chiratae and Blume Ventures.

As per a media report, the two companies have been in conversation for the last
few months and the deal is further aimed at improving Nykaa’s content game and
will complement its shopping categories.

In April 2022, Nykaa acquired stakes in three companies, Earth Rhythm, Nudge
Wellness, and KICA.

As per some media reports, Nykaa has been acquiring noticeable stakes in
product-related companies to have a rule over the segment and to give
competition to both horizontal and vertical marketplaces.

According to another report, Nykaa is also eyeing Times-Internet-owned MensXP.
However, no official statement has been made yet.

Also Read: Wish I’d had a co-founder to tide over tech struggles initially:
Nykaa’s Falguni Nayar

Co-founded by Suchita Salwan and Dhruv Mathur, LBB is a content-led platform to
discover independent brands. The platform has a reach of over 50 million and has
a customer base of 2.5 million. The products range from kitchen and dining,
women’s clothing, beauty products, homegrown ceramics, home décor, home
lighting, and many others.

As per a report, the platform had suffered a reduction in its collection in
2021, hit by the pandemic. Falguni Nayar-owned Nykaa, with a reach of 10
million, was featured in the annual TIME 100 Most Influential Companies List
2022.

 

 * TAGS
 * beauty giant
 * beauty products
 * cosmetics
 * e-commerce
 * Little Black Book
 * Nykaa
 * Nykaa new deal
 * shopping platform

kashishsharma

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--------------------------------------------------------------------------------


MILD RECESSION LIKELY TO HIT US BY 2022 END, SAY NOMURA ECONOMISTS

The Federal

6:16 PM, 20 June, 2022 Updated 6:17 PM, 20 June, 2022


A mild recession is likely to hit the US by the end of financial year 2022,
economists at Nomura Holdings said as the Federal Reserve has raised interest
rates to tame rising inflation.

“With rapidly slowing growth momentum and a Fed committed to restoring price
stability, we believe a mild recession starting in the fourth quarter of 2022 is
now more likely than not,” Nomura economists Aichi Amemiya and Robert Dent wrote
in a note on June 20.

“With monthly inflation through 2022 likely to remain elevated, we believe the
Fed response to the downturn will initially be muted,” the Nomura analysts wrote
in their note.

The economists noted that the rate hikes are likely to continue into 2023, but
with a slightly lower terminal rate of 3.50 – 3.75 percent reached in February,
compared to the previous forecast of 3.75 – 4.00 percent in March.

Also read: US Federal Reserve raises interest rate in biggest hike since 1994

The financial rating agency has lowered its real GDP forecast for the US for
this year to 1.8 percent from 2.5 percent earlier, while the projection for next
year is seen declining one percent, from 1.3 percent growth earlier.

Persistent inflation and inflation-focused Fed are among key factors driving the
downturn. Poor consumer sentiment and high food and energy prices have caused
several distortions in the supply chain and have deteriorated the global
outlook.

As the Fed has hinted at more rate hikes to control the spiralling inflation,
Nomura says this will likely drive the economy into a mild recession.

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