“It’s a multi-year journey and we believe that over the next five years we will continue to grow both our beauty and fashion businesses manifold. And similarly, the house of brands will also continue to grow manifold where we will almost be like a consumer company which has a number of brands within its fold,” said Falguni Nayar, cofounder and CEO, Nykaa.
According to Nayar, the company is also betting big on its B2B business. “We are also setting up our e-B2B (business to business) called Super Store. We have already started business on that a couple of months ago and are seeing good traction,” she added.
The company saw its
share price zoom almost 100% intra-day upon listing will scout for inorganic growth opportunities. “We have already made a few acquisitions such as Dot & Key… before that we acquired Twenty Dresses and Pipa Bella on the jewellery side. So, we are always open and exploring opportunities, but we also take our role as a multi-brand retailer very seriously. We really will focus on that and are building some brands on the side which will be important,” said Adwaita Nayar, CEO, Nykaa Fashion.
Fashion is another segment Nykaa is looking to go big on. “That’s a bet we took on two and a half years ago and the growth in the last year itself has been incredible, but I think we will see massive acceleration in the coming year and the year after. We do see fashion actually becoming a very sizeable part of Nykaa’s overall business. It’s already 25% of the consolidated GMV and we see that percentage going higher over the next few years,” she added.
The beauty business, the largest contributor to the revenues is also seeing a healthy growth traction. “Beauty consumption in India is yet to take off. If you just compare the beauty consumption in India vs China, vs South Korea or vs Europe, there is a massive delta today. We have come a long way as compared to when we first got into this business where women would buy a simple kajal and at max a Ponds cream. But today, the routine has become more sophisticated and complex,” said Anchit Nayar, CEO, beauty e-commerce, Nykaa.
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