The Ken had covered Nykaa’s acquisition of Little Black Book (LBB) in depth in its story this week. It’s behind a paywall, but here are the summary points:
- But for LBB, the acquisition was a lifesaver. The company’s valuations were not moving and it was burning far more than it was earning, meaning empty coffers
- Most of it could be blamed on the pandemic, which ushered in a new era of content-led marketing and new avenues for homegrown brands
- This dealt a blow to LBB’s ambitions to scale its e-commerce division LBB Shop. With Nykaa at the helm, LBB would hope to go back to the drawing board and rebuild
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