Nykaa to focus on profitability, long-term sustainability following IPO
Multi-brand beauty giant Nykaa is focusing on profitability, building a business that is sustainable in the long term, and omni-channel expansion, following its recent blockbuster IPO.
“I think for us the IPO made a lot of sense,” Nykaa’s CEO for beauty e-commerce Anchit Nayar told ET Online. “It's something that was always on the cards since the early days. Nykaa’s founder, Falguni Nayar, is an ex-investment banker. She has taken many companies public and saw the value that the public markets bring to a company in terms of corporate governance, as well as long-term sustainability for the business.”
The IPO was designed to take the business public in order to enable it to best serve its customers and ensure its long future in India’s beauty and fashion industry, according to Nayar. The business is focusing on corporate governance and growth with a view to maximise profitability, he said.
Nykaa, which recently announced that it plans to triple its India brick-and-mortar store count and opened its most recent store in Pune, will pursue omni-channel expansion. Having a physical presence is especially important for beauty, personal care, and luxury products, according to Nayar.
“Offline remains a massive market and we want to be dominant both online and offline...the two can co-exist very synergistically,” said Nayar.
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