Wednesday, April 24, 2024
Outlook.com
Outlook India
Outlook Business

Nykaa

According to GoKwik, the category of beauty and personal care products is rapidly catching up to fashion companies in terms of volume growth

Falguni Nayar in the annual general meeting said almost one-third of the GMV contribution in FY23 came from the newer businesses

Nykaa has registered Rs 5.4 crore net profit with a growth of 8 per cent for the June quarter. 

Chief Marketing Officer Shalini Raghavan is among few executives who have stepped down from the beauty start-up over the last six months

The company recently reported a 68 per cent YoY fall in net profit and is seeking to diversify its offerings and invest in AI and machine learning capabilities

Sharrp expects 3-4 start-ups it funded to go for listing in the next 3-4 years, and the firm remains invested in start-ups for a long-term horizon

The absence of a prominent leader other than Nykaa in the online space offers Reliance Retail's Tira brand sufficient headroom to position itself as a strong contender in India's burgeoning beauty and personal care industry

The leadership change comes after Carlyle, in December 2022 announced the acquisition of a majority stake in the homegrown firm

The company had registered 37 per cent growth in the consolidated revenue of nine months ended December 31, 2022

The country's leading retailer will now compete with the brands like HUL's Lakme, Nykaa, Tata and LVMH's Sephora in India's growing beauty and personal care marketplace