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A third of Nykaa GMV in FY23 has come from new businesses: CEO Falguni Nayar

Economic Times

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Around one-third of Nykaa's gross merchandise value (GMV) in the fiscal year 2022-23 came from its newer businesses, according to its CEO, Falguni Nayar. The company reported a consolidated GMV of Rs 9,743 crore and net revenue of Rs 5,143 crore during that period. Nykaa has been expanding its portfolio by launching or acquiring brands in beauty and personal care as well as fashion. The company sees potential for growth in both segments due to India's under-indexed per capita spend. In the first quarter of the current fiscal year, Nykaa reported an 8% YoY increase in net profit and a 24% increase in revenue.

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