The fashion industry is a tough nut to crack, and the titans of the market will tell you-it’s never bad to get some help. On Monday, multi-brand fashion e-commerce platform Nykaa Fashion acquired Pipa Bella, the digital jewelry brand, to expand its own jewelry services and other fashion jewelry and accessories.
Pipa Bella, which targets urban women between 22-35 years and has a jewelry line with over 1500 styles, along with custom-made and ready-made fashion jewelry, would continue to offer its services on its own website and also extend this functionality as a consumer brand under the Nykaa Fashion portfolio, according to a press release.
The terms of the deal were not disclosed.
Adwaita Nayar, CEO of Nykaa Fashion and a founding team member of Nykaa, said that they had witnessed a growing 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. We are excited to have Pipa Bella on board as the brand reflects our vision to always stand for good quality and well-curated designs at accessible prices. Our aim is to extend the brand’s core signature design to a much larger landscape by becoming a full range accessories label. We believe that there is a strong opportunity to provide premium fashion jewelry with contemporary design and functionality at the core of the customer experience.”
Founded in 2012 by entrepreneur Falguni Nayar, Nykaa has expanded into a strong retailer with over 17 million monthly active users, more than 70 stores in the country, and receiving over 1.5 million orders a month. It also has over 2500 brands and more than 700,000 products through its stores, app and website.
Pipa Bella, on the other hand, is a relatively smaller company, and is an up and coming name in the jewelry industry. With this acquisition, Pipa will gain a much wider audience, reaching users not just through its own website but with Nykaa’s help as well.
Nykaa, on the other hand, will get a head-start in the promising market of jewelry, with more and more users turning to e-commerce to buy their accessories.
The acquisition of Pipa Bella is not the first by Nykaa – it had acquired popular fashion brand Twenty Dresses in 2019 to enhance its product portfolio, and plans to organize the jewellery market in India to achieve product excellence and assurance of quality, the release added.
Shuchi Pandya, founder of Pipa Bella, said, “Pipa Bella has always been a customer-centric brand, focusing on premium design at reasonable prices. It has found strong synergies with Nykaa Fashion’s positioning within the e-commerce fashion landscape and its manner of engagement with its wide network of customers around the country. This association will allow Pipa Bella to reach a larger customer base and leverage the massive number of users visiting Nykaa Fashion every month.”