To expand its fashion business, beauty e-tailer Nykaa has acquired women styling platform 20Dresses.com for an undisclosed sum, two people in the know told TechCircle.
With the acquisition, the entire team of 20Dresses will join Nykaa. “It is an acquisition which would help the company leverage the talent at 20Dresses to make private labels,” said one of the two people cited above, on the condition of anonymity.
“Nykaa already has some private labels. The current 40-50 people team at Nykaa working on fashion will be joined by 20Dresses’ team that would help in making private labels and expand the business,” said the second person.
While Nykaa declined to comment, an email to 20Dresses did not get any response till the time of publishing this report.