Indian magnificence retailer Nykaa’s quarterly revenue greater than trebled on Friday, boosted by regular demand for make-up and skincare merchandise in addition to new tie-ups with international manufacturers.
The firm, formally often known as FSN E-Commerce Ventures, posted a revenue of 344.4 million rupees ($3.9 million) for the quarter ended September 30, up from $1.1 million a yr in the past.
The quarterly outcomes present Nykaa is sharpening its give attention to profitability by doubling down on its core magnificence enterprise.
That has meant scaling up strategic partnerships — together with the worldwide rollout of Katrina Kaif’s Kay Beauty, and Rihanna’s Fenty Beauty – and increasing its offline presence, enabling it to grow to be a full-stack magnificence and way of life platform.
The additions have helped Nykaa cater to India’s $28-billion magnificence and private care market – which has remained resilient regardless of a broader consumption slowdown.
Revenue from the wonder enterprise rose 25 % to 21.32 billion rupees, buoyed by the inclusion of premium manufacturers similar to Chanel, Korean skincare label Aesura, and sunscreen maker Supergoop.
Sales for its vogue vertical, which incorporates attire and equipment from labels like Victoria’s Secret and Titan’s Mia, grew 21 %, lifting general income by 25 % to 23.56 billion rupees.
Nykaa added 19 magnificence shops through the quarter, taking its whole rely to 265.
Gross margins expanded to 44.9 % from 43.8 % a yr earlier, supported by a better give attention to premium choices.
By Kashish Tandon
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