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Nykaa’s Focus On Building Network, Not Quick Commerce: Falguni Nayar
Inc42
·
9m ago
Medial
Nykaa's CEO, Falguni Nayar, has stated that quick commerce will not be the sole business channel for the company. Instead, their focus is on expanding their network across the country, rather than just in a few cities. Recently, Nykaa launched a 10-minute delivery pilot in some areas of Mumbai.
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Quick commerce is taking demand from neighbourhood stores: Nykaa's Falguni Nayar
Economic Times
·
9m ago
Medial
Nykaa CEO, Falguni Nayar, discusses the impact of quick commerce on offline channels in the personal care category. She states that quick commerce is taking demand away from traditional neighborhood stores, but Nykaa's focus remains on enhancing speed nationwide through their own network. While beauty is one of the fastest-growing segments in quick commerce, Nayar emphasizes that Nykaa will not venture into additional categories just for the sake of ultra-fast delivery. She also highlights the importance of faster delivery across the country and Nykaa's continuous efforts to improve their network.
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Quick commerce solution for different use cases, categories; not where Nykaa wants to jump in: Nayar
YourStory
·
9m ago
Medial
Nykaa founder and CEO, Falguni Nayar, has stated that the quick commerce model is better suited to broader product categories, such as groceries, rather than the beauty and fashion space. Although Nykaa is focused on improving delivery timelines and building an extensive network, Nayar emphasized that quick commerce is solving a different use case. She also mentioned that Nykaa aims to provide rapid and express deliveries, particularly as the industry grows and evolves towards an omnichannel approach to serving consumers. The platform currently has 35 million customers and operates in 200 stores.
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Quick commerce is not where Nykaa wants to jump in: CEO Nayar
Inshorts
·
9m ago
Medial
Nykaa CEO Falguni Nayar said quick commerce is more about a wider set of stock-keeping units (SKUs), which includes groceries and everyday goods. "This is not where Nykaa wants to jump in...I think what quick commerce is solving for is a very different use case," she said. Nykaa is continuously focused on improving delivery timelines, Nayar added.
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Six executives quit Nykaa, CEO Falguni Nayar to spearhead marketing
Economic Times
·
2y ago
Medial
The exits include that of Chief Marketing Officer Shalini Raghavan, with Nykaa's founder and CEO Falguni Nayar stepping up to take direct oversight of that function, given its criticality, the company said. CEO Falguni Nayar will lead the marketing efforts. The changes signal Nykaa's dedication to strategic adjustments, potentially impacting its operations and growth trajectory in the highly competitive e-commerce industry.
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Falguni Nayar Sees India's Rise As Third Largest Consumer Market Globally By 2030
OutlookIndia
·
1y ago
Medial
Falguni Nayar, the CEO of Nykaa's parent company FSN E-Commerce Ventures, predicts that India will become the third largest consumer market worldwide by 2030. Nykaa plans to open its first international store in collaboration with GCC's Apparel Group. Nayar believes that India's entrepreneurial spirit and young population make it an ideal place for consumer-focused businesses. Nykaa is currently the largest beauty specialty retailer in India and has disrupted the industry through a technology-first approach. Nayar emphasized the company's commitment to sustainable growth and long-term profitability.
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Bare Anatomy parent Innovist raises $7 Mn from Amazon Smbhav Venture Fund, others
Inc42
·
1y ago
Medial
Innovist, the parent company of D2C consumer brands Bare Anatomy and Chemist at Play, has secured $7 million in a Series A funding round led by Amazon Smbhav Venture Fund. Other existing investors, including 72 Ventures, the family office of Nykaa founder Falguni Nayar, and former KKR India head Sanjay Nayar, also participated in the round. The funds will be used for product innovation, market expansion, and team building. Innovist raised $3.5 million in a pre-series A funding round last year and has garnered over $13 million in total funding.
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Quick commerce is not creating new demand: Nykaa Beauty CEO Anchit Nayar
Economic Times
·
6m ago
Medial
Nykaa Beauty CEO Anchit Nayar suggests that quick commerce is meeting existing demand rather than creating new demand for beauty products. Nykaa focuses on generating demand, especially in untapped tier-II and tier-III cities. Despite acknowledging successful quick commerce trials, Nayar emphasizes the importance of demand creation. Nykaa is expanding store locations and enhancing delivery services, aiming for fast-moving beauty products to reach customers within 30 minutes to three hours, adapting to urban preferences for convenience.
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Nykaa Pushes The Pedal On Same Day & Next Day Deliveries, Claims 60% Orders Fulfilled In 110 Cities
Inc42
·
10m ago
Medial
As of now, around 60% of deliveries are made within the next day in major cities, according to Falguni Nayar, the MD and CEO. The company has increased its warehouse network from 18 to 44 in FY24, resulting in a reduction of order-to-delivery times by 18%, fulfillment costs by 19%, and split shipments by 24% in the previous financial year.
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Zomato halts Blinkit integration, shifts focus on building super brands
Inc42
·
1y ago
Medial
Foodtech giant Zomato has decided to pause the integration of its quick commerce arm Blinkit and instead focus on building "super brands." Zomato CEO Deepinder Goyal expressed that super apps have not been as successful in India as they have been in China and that Indians gravitate towards super brands. Zomato plans to maintain a separate identity for its food delivery platform and quick-commerce unit, developing Blinkit as an independent brand. The integration will primarily focus on sourcing synergies with Zomato's B2B supplies vertical, Hyperpure. Zomato's rival Swiggy has opted to integrate its quick commerce vertical, Instamart, directly into its main app. Blinkit turned contribution positive in Q2 FY24, recording 45.5 million orders during this period.
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Nykaa has huge lead, edge to actively defend its turf: Founder Falguni Nayar
Economic Times
·
1y ago
Medial
Indian retailer Nykaa, a major player in the fashion and beauty industry, is prepared to defend its position against competition from conglomerates and new entrants. Nykaa's founder and CEO, Falguni Nayar, stated that the company has a significant advantage in terms of brand recognition, customer base, and business knowledge. With the rapidly growing beauty e-commerce market in India attracting interest from large companies and conglomerates, Nykaa aims to stay focused and exceed customer expectations to retain its position. Nayar is optimistic about the future of beauty and fashion in India, citing the country's young and aspiring population and rising income levels as drivers of growth.
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