Insta
Tata Digital Set To Launch E-Commerce Platform For Beauty And Cosmetics Products: Report
Swarajya Staff
Sep 17, 2021, 11:40 AM | Updated 11:45 AM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Continuing with the push towards the booming e-commerce space, Tata Group entity Tata Digital is said to be finalising plans to launch a new venture to exclusively sell beauty and cosmetic products, reports Economic Times.
The move would pit the Tatas directly against startups like Nykaa, Purple and MyGlamm which have built a presence in this niche segment. Of these, Nykaa is also set to list on the bourses soon with an IPO valuing the Falguni Nayak led company at about $4 billion.
Purple had also recently raised $45 million from notable investors like Sequoia, Verlinvest and others in March. MyGlamm had also raised funds from venture capital major Accel.
It should be noted that the said e-commerce platform would operate separately from Tata CLiQ which also deals in segments like apparel and electronics besides beauty products. Other group companies verticals like Westside also sell cosmetics, beauty, apparel and lifestyle household products online.
A wholly-owned subsidiary of Tata Sons, the entity christened Tata Digital houses the digital assets of the conglomerate. In May, it had acquired a majority stake in online grocery major BigBasket. Thereafter, it had also acquired a majority stake in online pharmacy and diagnostics major 1mg. This was then followed by an investment of Rs 546 crore into fitness startup Cult.fit.
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.