Nykaa eyes Rs 6,000 crore GMV from in-house brands by FY30, ramps up fashion and AI bets
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Omnichannel beauty and fashion retailer Nykaa is aiming to increase the gross merchandise value (GMV) of its in-house consumer brands to Rs 6,000 crore by FY30, up from Rs 2,100 crore in FY25.The firm is also targeting 3–4x growth in its fashion vertical over the next five years, Nykaa said at its annual investor day 2025 here on Thursday.The Mumbai-based company said it is integrating artificial intelligence (AI) across operations.Falguni Nayar, executive chairperson, founder and CEO of Nykaa, said the firm is growing despite a challenging macroeconomic situation. 'Beauty remains a powerhouse, our B2B play is scaling well, and we see recovering momentum in fashion,' she said. 'India is now on every global beauty company's radar,' she added.The fashion vertical clocked Rs 3,800 crore in GMV in FY25 and saw improvement in profitability metrics. Nykaa has set long-term earnings before interest, taxes, depreciation and amortisation (Ebitda) margin target of 10% for the business.Gen Z customers now contribute 44% of the spending on beauty and personal care across Nykaa's platforms, the company said.Nykaa Fashion has expanded its premium offering through global partnerships with brands such as Revolve, Victoria's Secret, Calvin Klein, and Footlocker.Superstore by Nykaa, its B2B platform, now serves over 370,000 retailers across 1,100 cities, with 89% of sales coming from tier-2 cities and beyond. The firm plans to expand its Superstore footprint to 20,000 pin codes and 3,200 cities, targeting India's estimated $12-billion unorganised beauty retail market.In its core beauty business, Nykaa is targeting mid-20% growth rates in the coming years, driven by digital discovery at scale, a growing premium brand portfolio, and an omnichannel model designed for reach and depth.For the quarter ended March, FSN E-Commerce, Nykaa's parent entity, reported a net profit of Rs 19 crore, nearly double the figure from the year-ago period. Operating revenue rose 23.6% year-on-year to Rs 2,016.7 crore, led by growth in the beauty and personal care segment.As vertical ecommerce players explore quick commerce models, Nykaa has been piloting Nykaa Now, its express delivery offering, in select pin codes across Mumbai, Delhi, and Bengaluru since last year.However, in an interview with ET on June 9, Adwaita Nayar, CEO of Nykaa Fashion, said the company is taking a cautious approach to the category. Beauty, she said, is a discovery- and inspiration-led category that requires width and depth of assortment, which the quick commerce format doesn't typically support.Nykaa is also transitioning into an AI-native enterprise, with more than 40 GenAI initiatives in progress. These span hyper-personalised shopping, automated ad targeting, backend process automation, and AI-led customer service.The company said over 50% of its internal code will soon be AI-generated, and most customer queries will be handled through AI-powered voice and chat interfaces.
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