Nykaa reports GMV of INR 275 crores for '16-17
The beauty portal recorded an increase of 3.6X in GMV compared to the previous financial year. Highlights for the success of the e-commerce player include the onboarding of international powerhouse beauty brands like M.A.C, Clinique, The Face Shop and NYX, along with the expansion of physical retail footprint and robust sales of Nykaa Beauty, its in-house range of beauty products.
Nykaa increased its brand portfolio by 56% to stock 700+ brands and more than 80k products. The inventory-led e-commerce platform ensures that all products are genuine, sourced directly from the brands and available for immediate dispatch.
Nykaa launched the international luxury brand portfolio from The Estee Lauder Companies viz. M.A.C, Clinique, Estée Lauder and Bobbi Brown exclusively online for the first time in India. Boosted by the addition of these beauty powerhouses and with the growing demand for luxury beauty among Indian consumers, Nykaa reported a 10X growth in luxury beauty sales in the financial year 2016-17, contributing to 15% of overall sales.
Nykaa launched Korean beauty brands Innisfree and The Face Shop, as well international beauty brands Ahava and -417 to showcase the benefits of Dead Sea minerals.
Following the overwhelming response to the airport stores in New Delhi and Mumbai, Nykaa expanded its omni-channel positioning to launch brick & mortar Nykaa Luxe stores at Infiniti Mall, Andheri, Mumbai, VR Mall, Bangalore and Khan Market, New Delhi. This expansion will continue with the launch of 8 stores in the current financial year, to grow to a total of 30 stores in 2020.
Nykaa expanded its range of in-house beauty products - Nykaa Beauty, with the launch its very first lipstick collection - So Matte! lipsticks. The range now contains over 200 products across lip, eyes, nails and face categories and will expand to include skin, fragrances and personal care. The reach of Nykaa Beauty will increase through third party distribution.
Keeping with its philosophy to support and encourage women to be the best version of themselves, Nykaa launched the #BreakTheHashtag campaign supported by Bollywood actor Soha Ali Khan, to encourage women to move beyond stereotypes and celebrate every facet of their personality.
In this way, Nykaa has earned its reputation as the leading beauty influencer in India with its expertise, innovation, education tools and an unparalleled assortment of brands in every category. With a social media reach of more than 2.5 million fans, Nykaa engages beauty enthusiasts from across India to showcase the latest trends and product innovations.
"Since I launched Nykaa in 2012, the focus has always been to provide women with the best of beauty from around the world, along with the information they need to make the right choice for their needs. This has allowed us to build an extremely engaged and informed community these past five years that pushes us to constantly improve our shopping experience whether through product offer, technological innovations and enriching content," says Falguni Nayar, founder & CEO, Nykaa.com.
In its third round of funding that closed in December 2016, Nykaa raised 104.3 crores through institutional and private investors. Nykaa is currently on a GMV run rate of 600 crores.
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