Nykaa reports yearly revenue surge, plans eight new stores
Online beauty portal Nykaa.com reported a net revenue of Rs 214 crore and gross merchandise value (GMV) of Rs 275 crore for the financial year 2016-17, the company said in a statement.
The company, which last raised Rs 104.3 crore in December 2016, said it will launch eight new stores in this fiscal to reach a total store count of 30. According to the statement, the company is currently on a GMV run rate of Rs 600 crore.
The company brought onboard international beauty brands like M.A.C, Clinique, The Face Shop and NYX last year. It added that the revenue from luxury beauty segment was up 10-times, accounting for 15 per cent of total sales.
During the financial year, Nykaa also expanded its omni- channel positioning to launch brick and mortar ‘Nykaa Luxe’ stores in Mumbai, Bengaluru and New Delhi, apart from airport stores in Delhi and Mumbai.
In the financial year, Nykaa increased its brand portfolio by 56% to stock more than 700 brands with more than 80,000 products.
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