Hyderabad, October 07, 2016: Founded in 2012, by FSN E-Commerce Ventures Pvt. Ltd., Nykaa is chalking major expansion plans to tap into the growing cosmetics market in India. The firm is working on launch of portfolio of brands from one of the largest international prestige beauty company from US. Nykaa is also finalizing plans to open 30 new physical stores by 2020 in addition to its 4 stores operating here.
Spearheaded by Ms. Falguni Nayar, the former Managing Director of Kotak Investment Banking, India’s leading investment bank, Nykaa has built a loyal base of beauty savvy customers through its inventory-led model with ‘100% genuine’ product assortment. The company has a robust content offering with its blog and social media platforms and a wide menu of 450+ international and Indian brands. The multi-brand portal has seen a 4X growth over the past year, and is currently on a net revenue run rate in excess of Rs. 250 crores.
To add to the constantly expanding portfolio of unique brands, Nykaa recently executed the exclusive online launch of L’Oreal Group NYX Cosmetics in India, the most successful e-commerce launch for the brand globally. The company is also exploring options to launch their own private label and working on the business plans.
“The focus for Nykaa has always been to offer our customers the best beauty shopping experience. This has been achieved today through a wide assortment of innovative and performance driven brands, strong technology platforms, efficient logistics and customer engagement through our content offerings. Nykaa has extremely savvy investors who support the company’s vision of being an omni-channel retailer with customer centricity. In the current e-commerce market sentiment, only the strong companies are being supported with capital and people investments, and we are very proud to have achieved current revenue and growth with a highly capital efficient model and clear path to profitability,” says Falguni Nayar, founder & CEO Nykaa.com.
Corporate Comm India(CCI Newswire)
