Nykaa's Pink Friday Sale sees sales increase fivefold as brand increases expected yearly revenue

By

Isabelle Crossley

Published
Nov 27, 2018

Nykaa’s order volumes increased fivefold during its “Nykaa Pink Friday” sale at the weekend and so the business has raised its predicted net revenue for this fiscal year to Rs 1,200 crore ($180 million).

During its four day sale over the weekend, the beauty e-commerce retailer Nykaa managed to surpass its revenue targets significantly.

“We had planned the sale to be at 3x of our usual order volumes and growth. But the first day alone saw orders surge 5x,” Nykaa’s founder and CEO Falguni Nayar told the Economic Times. Orders increased fivefold when compared to 2017 sales.

“We have been surpassing our budgeted revenue target by about 18% for the last couple of months,” explained Nayar. “On the basis of this [sale] and the recent monthly growth, we believe we will be able to significantly exceed our net revenue target for FY19 to Rs 1,200 crore.”

The brand is expecting its total sales for the sale event to total around Rs 85 crore. The “Nykaa Pink Friday” sale ran its second edition this year after launching in 2017. Last year, the sale grossed $2.5 million in sales.

Nykaa ended the 2018 fiscal year with a net revenue of Rs 570 crore and previously expected its net revenue total to double to Rs 1,050 crore in the current fiscal year. Following the brand’s successful sale season, it expects the total to be higher.