BackNykaa Fashion acquires online jewellery retailer Pipa Bella
Pipa Bella will continue to offer its services on its own website and also extend portfolio under the Nykaa Fashion platform
PremiumNykaa Fashion, the fashion e-commerce platform of Nykaa, on Monday announced the acquisition of online jewellery brand Pipa Bella.
Pipa Bella will continue to offer its services on its own website and also extend portfolio under the Nykaa Fashion platform, the company said in a press release on Monday.
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The acquisition will help Nykaa address the growing demand for fashion jewellery in India with brands that offer more contemporary designs and are a bridge between precious gold and unorganized casual jewellery. The deal size was not disclosed.
Young, urban shoppers are seeking more trendy jewellery brands. Discovery of such brands via social media has fuelled the popularity of niche brands over the last few years.
“We have seen a rising trend of personalized, minimalistic and premium fashion accessories in the Indian market. At Nykaa Fashion, we strive to bring the best quality and variety of such products to meet the demand of the audience," said Adwaita Nayar, chief executive officer, Nykaa Fashion and founding team member, Nykaa.
Nayar said Nykaa will extend the brand’s core signature design to a much larger audience by becoming a full range accessories label. Pipa Bella sells earrings, bangles, neck pieces, etc. in materials such as crystal, resin, metal, stone and beads. Its prices range from under Rs500 to upwards of Rs6,000 for more exclusive pieces.
“This association will allow Pipa Bella to reach a larger customer base and leverage the massive number of users visiting Nykaa Fashion every month," said Shuchi Pandya, founder, Pipa Bella.
Pipa Bella, along with other consumer brands, will be an integral part of Nykaa Fashion’s offline expansion this year, Nykaa said. Nykaa Fashion has been adding more brands as well as expanding its own range of private label to its e-commerce platform. In 2019, Nykaa Fashion acquired fashion brand Twenty Dresses to expand its private label play.
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