Nykaa opens first Luxe store in Vadodara
Multi-brand beauty retailer Nykaa opened its first Luxe store in Vadodara, Gujarat, on December 25 in the city’s Inorbit Mall.
Nykaa has set up shop in Gorwa, Vadodara, the brand announced on Facebook. The new store features international beauty brands including Huda Beauty, Estée Lauder, Bobbi Brown, and Clinique, among others. The store also houses a wide range of Nykaa’s own private label offerings including cosmetics and skincare.
Nykaa’s Luxe stores focus on international luxury beauty brands and its On Trend stores cater to a millennial audience, focusing on trending products at a more affordable price-point. The brand also recently launched kiosks as its new retail format, allowing it to expand to a wider area with a lower initial investment.
Falguni Nayar’s omni-channel business, which launched in 2012, started online and has now expanded across India. Tapping into India’s booming beauty market, the business has started to set-up shop in more rural locations and continues to add more international brands to its roster. It has also added more value products and men’s items.
Nykaa plans to open around 180 Luxe and On Trend stores over the next five years and recently announced breakeven in earnings report.
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