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Time of India
6 days ago
- Business
- Time of India
Nykaa eyes Rs 6,000 crore GMV from in-house brands by FY30, ramps up fashion and AI bets
Academy Empower your mind, elevate your skills Omnichannel beauty and fashion retailer Nykaa is aiming to increase the gross merchandise value (GMV) of its in-house consumer brands to Rs 6,000 crore by FY30, up from Rs 2,100 crore in firm is also targeting 3–4x growth in its fashion vertical over the next five years, Nykaa said at its annual investor day 2025 here on Mumbai-based company said it is integrating artificial intelligence (AI) across Nayar, executive chairperson, founder and CEO of Nykaa, said the firm is growing despite a challenging macroeconomic situation. 'Beauty remains a powerhouse, our B2B play is scaling well, and we see recovering momentum in fashion,' she said. 'India is now on every global beauty company's radar,' she fashion vertical clocked Rs 3,800 crore in GMV in FY25 and saw improvement in profitability metrics. Nykaa has set long-term earnings before interest, taxes, depreciation and amortisation (Ebitda) margin target of 10% for the Z customers now contribute 44% of the spending on beauty and personal care across Nykaa's platforms, the company Fashion has expanded its premium offering through global partnerships with brands such as Revolve, Victoria's Secret, Calvin Klein, and by Nykaa, its B2B platform, now serves over 370,000 retailers across 1,100 cities, with 89% of sales coming from tier-2 cities and beyond. The firm plans to expand its Superstore footprint to 20,000 pin codes and 3,200 cities, targeting India's estimated $12-billion unorganised beauty retail its core beauty business, Nykaa is targeting mid-20% growth rates in the coming years, driven by digital discovery at scale, a growing premium brand portfolio, and an omnichannel model designed for reach and the quarter ended March, FSN E-Commerce, Nykaa's parent entity, reported a net profit of Rs 19 crore, nearly double the figure from the year-ago period. Operating revenue rose 23.6% year-on-year to Rs 2,016.7 crore, led by growth in the beauty and personal care vertical ecommerce players explore quick commerce models, Nykaa has been piloting Nykaa Now, its express delivery offering, in select pin codes across Mumbai, Delhi, and Bengaluru since last in an interview with ET on June 9, Adwaita Nayar, CEO of Nykaa Fashion, said the company is taking a cautious approach to the category. Beauty, she said, is a discovery- and inspiration-led category that requires width and depth of assortment, which the quick commerce format doesn't typically is also transitioning into an AI-native enterprise, with more than 40 GenAI initiatives in progress. These span hyper-personalised shopping, automated ad targeting, backend process automation, and AI-led customer company said over 50% of its internal code will soon be AI-generated, and most customer queries will be handled through AI-powered voice and chat interfaces.
Fashion Network
11-06-2025
- Business
- Fashion Network
Nykaa Fashion could break even in four years
Beauty giant Nykaa 's fashion division could break even in four years if its current trend of improvement in its earnings before interest, tax, depreciation, and amortisation continues. While Nykaa Fashion remains a loss-making vertical, its executives are confident that its outlook is improving. Nykaa is charting a steady path towards profitability, posting a 40% rise in EBITDA to Rs 470 crore ($54.87 million) in the 2025 financial year, Apparel Resources India reported. The platform's gross merchandise value climbed 28% year-on-year to Rs 15,600 crore, with fashion and business to business platform Nykaa Superstore contributing increasingly to the business' overall momentum. 'Fashion is a massive opportunity- it's five times the size of the beauty market,' said Nykaa's co-founder and chief executive of its fashion division Adwaita Nayar, Apparel Resources India reported. The fashion vertical, now five years old, registered Rs 4,000 crore in gross merchandise value. 'We're currently operating at -8% EBITDA, but that's a 200 basis point improvement over the previous year," said Nayar. Offline retail contributes just 10% to GMV but plays a key role in premium and luxury sales, where it accounts for almost half. 'Actually, Nykaa has one of the highest sales per square foot in the world,' said Nayar. As Nykaa evolves into a multi-vertical player, its investments in in-house brands, retail tech, and personalisation through AI are central to its strategy for long-term growth.
Time of India
09-06-2025
- Business
- Time of India
'Quick commerce ops not hurting beauty biz, its aiding personal care'
As vertical ecommerce players gear up to fight the quick commerce battle, Nykaa is taking a cautious approach toward the segment. After piloting quick-commerce platform Nykaa Now in select pin codes across Mumbai, Delhi and Bengaluru last year, the beauty and fashion etailer says its core beauty category isn't designed for 10-minute deliveries and much of the traction is coming from personal care products . "Nearly 80% of what we sell is beauty and 20% is personal care. Personal care is what's really picking up on quick commerce," said Adwaita Nayar, cofounder of Nykaa and executive director and CEO of Nykaa Fashion. "Our beauty business' gross merchandise value (GMV) has grown at 30% year-on-year for the last four quarters. So I don't think we're seeing an impact of quick commerce. It's hard to know what growth would have looked like without it, but we're where we expected to be." Beauty is a discovery and inspiration-led category, where there is a lot of width and depth that needs to be serviced. The nature of quick commerce doesn't typically support that kind of assortment, Nayar told ET in an interview. She clarified that the Nykaa Now list is curated separately with a focus on personal care and gifting rather than mirroring its primary ecommerce catalogue. The cautious tone contrasts with how horizontal quick commerce platforms like Blinkit, Swiggy 's Instamart, and Zepto have aggressively expanded into newer categories such as electronics and fashion and beauty products. These companies have said beauty and personal care is fastest growing on their platforms. Along with the bigger players like Myntra, several vertical quick commerce startups have emerged, backed by venture capital including the likes of Slikk and Blip in the fashion and apparel space. She did acknowledge a broader shift in delivery expectations. "It's not about 10 minutes, but people's expectations for delivery speed globally is just going up," she said. Even as discretionary spending slows in parts of India's consumer internet market, Nykaa's beauty business continues to grow at a healthy pace, Nayar said. For the quarter ended March, FSN E-Commerce , Nykaa's parent company, posted a net profit of Rs 19 crore, almost double that reported in the year earlier. Operating revenue rose 23.6% year-on-year to Rs 2,016.7 crore, led by gains in beauty and personal care. "We are aware of the broader slowdown. We benchmark ourselves against a lot of these companies and understand what their growth rates look like. But so far, Nykaa hasn't seen a similar impact," Nayar said. "Based on our estimates, the online beauty and personal care market grew in the low 20s, while we grew in the high 20s." In contrast, the fashion vertical, which Nayar has led over the last few years, is growing at a slower pace, though it has outpaced overall industry growth at 12% year-on-year GMV growth in FY25. "Actually, if you compare the net sales value (of beauty and fashion) it is a more apples-to-apples metric. The split is 75:25 in GMV terms and 80:20 in NSV." Her goal is not to make fashion bigger than beauty, but to build a strong and profitable business with a clearly defined niche. Nayar said Nykaa Fashion's positioning remains distinct from fast-fashion players like Shein, which has re-entered India through Reliance Industries .
Economic Times
09-06-2025
- Business
- Economic Times
ID startups face data heat; Nykaa eases into qcomm
Happy Monday! Startups offering identity verification services are under the government's scanner. This and more in today's ETtech Morning Dispatch. Also in the letter: ■ Vibe coding needs more than vibes ■ Lenskart's IPO route■ Byju's in NCLAT ID please? MeitY verifies the verifiers The government is investigating startups offering identity verification services for potential unauthorised access to the Aadhaar, permanent account number (PAN) and goods and services tax (GST) databases. What's happened: The ministry of electronics and information technology (MeitY) is investigating firms, including Surepass, Digitap, Zoop, and Signzy, over concerns they may have bypassed authorised protocols to access confidential databases. In response, MeitY has blocked access to some of these companies' websites via telecom networks. Under the lens: Banks access the Aadhaar database under strict licence agreements to authenticate customers. The government is now probing how these services are offering verification services, and whether the routes they use are compliant. These platforms typically partner with financial institutions, consumer-facing startups and other entities to help them verify customers or businesses. Their services are used to detect fraud and assess clients for underwriting. Expert take: Some verification startups collect customer application forms from clients and then scrape databases to confirm identity. According to an industry insider, this data is often available through open websites, unsecured APIs or even the dark flagged a growing number of startups relying on such scraping techniques, potentially without proper authorisation. Yes, but: Companies such as Idfy, DigiO, Signzy and Datasutram are among the widely used in this space. However, only a few platforms have faced regulatory action so far, ET has learnt. Also Read: NPCI curbs unauthorised use of UPI IDs by fintech companies 'Quick commerce ops not hurting beauty biz, its aiding personal care' Adwaita Nayar, CEO, Nykaa Fashion As Blinkit, Zepto, and Instamart expand aggressively into beauty and personal care, Nykaa is taking a more slower, curated approach. Its pilot, Nykaa Now, is live in select areas of Mumbai, New Delhi, and Bengaluru, with a deliberate focus on personal care rather than its core beauty range. Driving the news: 'Nearly 80% of what we sell is beauty and 20% is personal care. Personal care is what's really picking up on quick commerce,' Adwaita Nayar, cofounder and CEO of Nykaa Fashion, told us in an interview. Why it matters: Beauty is among the most competitive ecommerce categories, and quick commerce platforms are seeing strong growth from impulse-driven beauty buys. Nykaa, however, is staying the course, pointing to its core category's reliance on depth, shade options, and browsing behaviour. 'People browse a lot of shades and products before they buy. The nature of quick commerce doesn't typically support that kind of assortment,' Nayar added. By the numbers: 30% year-on-year growth in Nykaa's beauty GMV over the past four quarters. Delivery time cut from four days to two. Same-day or next-day delivery is active in 100 cities. Nykaa Now orders are currently fulfilled via dark stores, with other models under trial. Also Read: Rapid fashion delivery gathers pace, but long-term viability in question Go deeper: Nykaa Now is designed as a separate merchandising layer, curated using demand signals and quick commerce-specific use cases. 'It's not about what Nykaa already sells, but what the customer really wants quickly. That's more likely to be personal care or gifting,' Nayar said. While Nykaa is actively improving fulfilment speeds platform-wide, Nayar remains sceptical of the 10-minute delivery rush. 'It's not about 10 minutes. But people's expectations for delivery speed globally are going up.' Also Read: Nykaa Q4 profit doubles to Rs 19 crore; revenue up 24% Why vibe coding needs more than vibes for enterprise-scale solutions In the age of artificial intelligence (AI), vibe coding is all the rage, with companies and tech celebrities touting it as a simple way to build websites and apps using just a prompt. But the founders ET spoke to are highlighting the flip side. What happened: Executives said the growing trend of vibe coding, where developers rely on AI prompts to generate code, is triggering increased scrutiny, more rigorous code reviews, and a heavier burden on senior engineers to guide younger colleagues. As AI takes over the mechanics of coding, the new wave of engineers entering the workforce often lacks core programming knowledge. This has led to subpar code that requires additional checks and rarely reaches production without significant rework. Also Read: AI 'vibe coding' startups burst onto scene with sky-high valuations Golden use case: Coding remains one of the most visible and impactful applications of AI. Around 30% of new code at Google and Microsoft is now AI-generated, and executives expect that share to grow over time.. 'There is an overdependence on LLMs, and this is leading to critical thinking issues,' said Nida Sahar, founder of bootstrapped cloud infrastructure platform Also Read: Vibe coding: A threat to software engineers? Other Top Stories By Our Reporters Piyush Bansal, CEO, Lenskart Lenskart becomes public limited company in preparation for IPO: Omnichannel eyewear brand Lenskart has become a public company in preparation for its public listing, changing its registered name from Lenskart Solutions Private Limited to Lenskart Solutions Limited through a special resolution passed by its shareholders. NCLAT rejects Byju's resolution professional's petition in Aakash shareholding row: The Chennai bench of the National Company Law Appellate Tribunal (NCLAT) on Friday dismissed an appeal lodged by the resolution professional of Byju's parent, Think & Learn, against an interim order that mandated the maintenance of the status quo on the shareholding of Aakash Institute. Sundar Pichai answers who would be next Google CEO: Google chief executive Sundar Pichai, expects AI to play a critical role in the tech giant's future leadership at the Bloomberg Tech Conference. When asked whether a human or AI will run Google in the future, Pichai stated, 'I do think whoever is running it will have an extraordinary AI companion.' Computational thinking is key as AI reshapes software: Microsoft CEO Satya Nadella | In a recent conversation with tech YouTuber Sajjaad Khade, Nadella encouraged aspiring developers to concentrate on the fundamentals of software engineering, despite the increasing role of AI in coding. 'Just getting real fundamentals of software, if you're a software engineer, I think matters a lot,' Nadella said. 'To me, having the ability to think computationally is important.' Global Picks We Are Reading ■ Apple's struggles to update Siri lead to investor concerns over AI strategy (FT) ■ How Trump and Musk are still linked - despite falling out (BBC) ■ New apps help immigrants navigate Trump's deportation crackdown (Rest of World) Updated On Jun 09, 2025, 07:22 AM IST
Time of India
09-06-2025
- Business
- Time of India
'Quick commerce ops not hurting beauty biz, its aiding personal care'
As Blinkit, Zepto, and Instamart expand aggressively into beauty and personal care, Nykaa is taking a slower, more curated approach. Its pilot, Nykaa Now, is live in select areas of Mumbai, New Delhi, and Bengaluru, with a deliberate focus on personal care rather than its core beauty range. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads As vertical ecommerce players gear up to fight the quick commerce battle, Nykaa is taking a cautious approach toward the segment. After piloting quick-commerce platform Nykaa Now in select pin codes across Mumbai, Delhi and Bengaluru last year, the beauty and fashion etailer says its core beauty category isn't designed for 10-minute deliveries and much of the traction is coming from personal care products "Nearly 80% of what we sell is beauty and 20% is personal care. Personal care is what's really picking up on quick commerce," said Adwaita Nayar, cofounder of Nykaa and executive director and CEO of Nykaa Fashion. "Our beauty business' gross merchandise value (GMV) has grown at 30% year-on-year for the last four quarters. So I don't think we're seeing an impact of quick commerce. It's hard to know what growth would have looked like without it, but we're where we expected to be."Beauty is a discovery and inspiration-led category, where there is a lot of width and depth that needs to be serviced. The nature of quick commerce doesn't typically support that kind of assortment, Nayar told ET in an clarified that the Nykaa Now list is curated separately with a focus on personal care and gifting rather than mirroring its primary ecommerce catalogue. The cautious tone contrasts with how horizontal quick commerce platforms like Blinkit, Swiggy 's Instamart, and Zepto have aggressively expanded into newer categories such as electronics and fashion and beauty products. These companies have said beauty and personal care is fastest growing on their with the bigger players like Myntra, several vertical quick commerce startups have emerged, backed by venture capital including the likes of Slikk and Blip in the fashion and apparel did acknowledge a broader shift in delivery expectations. "It's not about 10 minutes, but people's expectations for delivery speed globally is just going up," she as discretionary spending slows in parts of India's consumer internet market, Nykaa's beauty business continues to grow at a healthy pace, Nayar said. FSN E-Commerce , Nykaa's parent company, posted a net profit of Rs 19 crore, almost double that reported in the year earlier. Operating revenue rose 23.6% year-on-year to Rs 2,016.7 crore, led by gains in beauty and personal care."We are aware of the broader slowdown. We benchmark ourselves against a lot of these companies and understand what their growth rates look like. But so far, Nykaa hasn't seen a similar impact," Nayar said."Based on our estimates, the online beauty and personal care market grew in the low 20s, while we grew in the high 20s."In contrast, the fashion vertical, which Nayar has led over the last few years, is growing at a slower pace, though it has outpaced overall industry growth at 12% year-on-year GMV growth in FY25."Actually, if you compare the net sales value (of beauty and fashion) it is a more apples-to-apples metric. The split is 75:25 in GMV terms and 80:20 in NSV."Her goal is not to make fashion bigger than beauty, but to build a strong and profitable business with a clearly defined said Nykaa Fashion's positioning remains distinct from fast-fashion players like Shein, which has re-entered India through Reliance Industries
