Nykaa x LBB
LBB is thrilled to announce our acquisition by Nykaa, as we become a part of the Nykaa family.
LBB is thrilled to announce our acquisition by Nykaa, as we become a part of the Nykaa family.
We started with a mission to bring serendipity to how urban millennials make lifestyle choices. While traditional algorithms optimize for popularity, we built the LBB experience to solve for discovery of the middle to longtail of lifestyle products and brands through content, community and a unique supply of brands and sellers.
We've delivered on our user promise of finding #SomethingDifferent through 60,000 original and curated recommendations, 3500 unique and local lifestyle brands on LBB Shop, 5000 offline experiences, and over 2000 brand partnerships. Through our platforms, we engage with over 60 Million users every month, with 15 Million+ urban millennials using our website and app to discover lifestyle recommendations, products and brands.
For LBB, being under the Nykaa umbrella gives us the opportunity to grow leaps and bounds as a platform, drive unparalleled scale for our brand and seller partners; and together with Nykaa, become the largest platform for leading global and Indian brands to engage with a high intent audience. LBB will operate as an independent platform, with a continued focus on using discovery, content and community to build audiences, engage with consumers, thereby delivering success for our partners. LBB's robust content creation capabilities and creator network will be leveraged within Nykaa's platforms to drive consumer growth and retention.
Furthermore, Nykaa's array of brand partners and private labels will leverage LBB's audience and user-building capabilities for growth. Our seller partners will continue to grow within LBB's ecosystem, and will have the opportunity to extend their catalog to Nykaa's large customer base. Our co-founders, Dhruv and Suchita will continue to build LBB with our rockstar teams, and work closely with Nykaa's teams as we collectively double down on content and community as a conduit to commerce, and powering growth for India's emerging lifestyle brands.
At LBB, we're proud to have built our company on big, bold bets. When we launched as a website and app in 2015, we bet that India's emerging lifestyle brands would gain popular adoption – a bet that's played out significantly well to say the least! We've bet that dopamine drives product and brand discovery more than discounts, and have delivered this through our on-platform experience, original and curated content, sold-out offline events, influencer pop-up shops and more.
In 2019, we bet on discovery being a conduit to commerce by launching our marketplace. Over half a million shoppers have found #SomethingDifferent in Home Decor, Fashion & FMCG through LBBs selection of independent and local brands! Our seller partners, most of whom retail exclusively on our platform, have seen unparalleled success, with our top vendors growing 10X in sales and revenue by working with LBB.
Through our journey, we've bet on high intent content and information arbitrage as a differentiator. And given our understanding of urban Indians, shifting trends and proprietary consumer insights, we have been able to successfully strategize and execute marketing and advertising solutions for leading global and Indian lifestyle brands like Diageo, Nestle, Fabindia, Marriott, Lego, Cadbury, Asian Paints, H&M, Philips and 700 more brands. We're proud to say 60% of LBB's brand partners are repeat customers!
Behind LBB is a team that's passionate, focussed and curious; our team puts our customers and users at the heart of what they do, and our success is all thanks to our colleagues. We're incredibly grateful to our employees for trusting our vision and building LBB into one of India's most loved consumer-tech brands.
We're very thankful to our investors at Athera Ventures, Blume Ventures, Chiratae, Alteria, IAN Fund & IAN for believing in our mission and backing us through our journey. We're indebted to our early angel investors and advisors – Rajan Anandan, Aseem Vadehra, Amit Vadehra, Gurcharan Singh, Aashti Bhartia, Niraj Singh, Sachin Bhatia, Mona Gandhi and Rajeev Sathe -- who took a bet on two first-time founders, and have been there for us from Day 1. We've had the support of some of India's best founders, investors and builders through our journey – thank you from the bottom of our hearts.
We couldn't be more proud of how far we've come. This is a big day for us, and only the beginning of what's to come.
As we say at LBB…we'll keep crushing it!