Nykaa Fashion has acquired online jewellery brand Pipa Bella. Nykaa stated that with this acquisition it aims to capture and expand into the jewellery segment with a focus on fashion jewellery and accessories.
The terms of the deal were undisclosed.
The statement said Pipa Bella would continue to offer its services on its own website and also extend this functionality as a consumer brand under the Nykaa Fashion portfolio.
Adwaita Nayar, CEO, Nykaa Fashion, and Founding Team Member, Nykaa, said, “We have seen a rising trend of personalised 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.”
Pipa Bella currently has over 1,500 styles of jewellery and targets the urban woman between 22 and 35 years of age. The brand offers offers a variety of custom-made and ready-made fashion jewellery to them.
Adwaita said the aim of the acquisition was to extend the brand’s core signature design to a much larger landscape by becoming a full range accessories label. She added that the team believes there is a strong opportunity to provide premium fashion jewellery with contemporary design and functionality at the core of the customer experience.
Shuchi Pandya, Founder, 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 ecommerce 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.”
The statement added Nykaa Fashion has previously strengthened its product portfolio by acquiring the popular brand Twenty Dresses. Through this acquisition, Nykaa Fashion also aims at seizing the opportunity to further organise the cluttered jewellery market to achieve product excellence and quality assurance.