THE WHAT? Nykaa has introduced its outcomes for the quarter and full yr ended March 31, 2024. The Indian retailer noticed income from operations rise 28 p.c yoy within the remaining three months of the monetary yr to Rs16,680 million whereas adjusted EBITDA soared 56 p.c yoy to Rs1,122 million.
THE DETAILS The FSN ventures-owned retailer reported a powerful progress uptick throughout all verticals, with Magnificence and Private Care GMV growing 25 p.c yoy in FY24 and Trend leaping 27 p.c yoy.
Among the many quarter’s highlights was an unique partnership with Fenty Magnificence – certainly one of Nykaa;s buggest launches to dates with a attain of greater than 100 million in addition to the debut of its flagship luxurious retailer format, Nykaa Luxe, in Mumbai.
THE WHY? Nykaa mentioned that India is changing into a precedence marketplace for international magnificence corporations and, as their trusted companion on the bottom, it’s properly positioned to profit from the nation’s booming magnificence sector. Key levers have been funding in new buyer acquisition in addition to robust progress in core classes, resembling skincare, hair care and a revival in colour. In the meantime, rising classes resembling fragrances and bathtub and physique are rising sooner than the platform common.
