”India’s entrepreneurial spirit, young and aspirational population makes it the best place to build consumer focused businesses and brands. I’m excited about what the future holds for Nykaa and for a young and unstoppable India”, said Falguni Nayar, Chairperson, MD & CEO, Nykaa
Bangalore: FSN E-Commerce Ventures Limited, referred to as “Nykaa”, India’s leading omnichannel consumer-tech company, today held its 11th Annual General Meeting (AGM). Falguni Nayar, Chairperson, MD & CEO of Nykaa reiterated the faith the company has in the tremendous growth potential of the Indian consumption story that is set to play out over the coming years. Having made strategic investments over the years in technology, operational excellence, partnerships and people, Nykaa has earned its place in its consumers’ minds as India’s most preferred beauty and lifestyle omnichannel destination.
Key statements from Falguni Nayar’s speech to the shareholders:
“India has quickly become the most preferred destination for many global brands to meet their growth ambitions. Through unwavering focus on best practices combined with the art of retailing, we have established ourselves as the Indian partner of choice for brands across the world. By taking an unconventional technology first approach, we were able to disrupt and democratize both demand and supply for the industry while reaching over 98% of the market.”
“We have an unwavering commitment to our customers – we strive to be authentic, inclusive and transparent with them. Our customers have appreciated this, and allowed us into their homes and hearts, for which we are grateful. We have received much brand love, with Nykaa becoming synonymous with Beauty for many around the country.”
“We are proud of our ability to execute and deliver on the plans we set out to achieve. Almost one-third of our GMV contribution in FY23 has come from our newer businesses, with all of them being built from scratch over the last 4 to 5 years. Our success here comes from diligently finding product-market fit, executing well with speed, and driving only sustainable growth.”
The highlights of FSN E-commerce 11th AGM presented virtually on 18th September 2023
- Nykaa witnessed a consolidated GMV of over Rs. 9,743 crores and a Net Revenue of Rs. 5,143 Crores. This represents a revenue growth of 36% over FY22 and a revenue growth of 191% over the pre-covid year of FY20.
- Nykaa achieved a Gross Profit of over Rs. 2,278 Crores and EBITDA of Rs. 256 Crores, with a healthy and improving EBITDA margin of 5%.
- Nykaa’s business spans across multiple digital platforms retailing over 6,200 brands to a customer base of 24 million and the company services customers in 98% of the country’s pin codes.
- As an omnichannel retailer, Nykaa has 150+ multi brand retail stores along with many EBOs and Store-in-store across 3rd party outlets.
- Currently, Nykaa has 25 unique and well positioned brands across Beauty, Personal Care and Fashion, spanning across categories. Notable amongst these are Kay Beauty, Nykaa Cosmetics, Dot & Key, Nykd & 20 Dresses.