Tata Digital working on online marketplace for beauty products
- ByAyushi Ray | September 17, 2021
Tata Digital working on online marketplace for beauty products. The new online marketplace will be separate from the group’s existing e-commerce stores such as Tata CLiQ, which sells apparel and electronics, and Westside, per the report. The salt-to-steel conglomerate’s new app will compete with existing etailers in the beauty and cosmetics space, such as Nykaa, Purplle and MyGlamm. “Tata Digital is diversifying rapidly to capture fast-moving consumer-facing segments within the digital ecosystem. The group sees the upcoming venture as a strategic high-growth platform,”said a source.
Tata Digital, which acquired BigBasket and 1MG in 2021, is working on a super app. The company also made an investment of $75 million in Cultfit. Nykaa has begun working on an initial public offering (IPO), which might value the company at as much as $8 billion. The company has filed the draft papers for the public offering with the Securities and Exchange Board of India.
Follow Startup Story
Related Posts
