Event



01Dec2016

Nykaa.com projects 10X growth in luxury portfolio with increasing demand for premium beauty products in India

 India’s leading online beauty store Nykaa.com anticipates a growth of 10X in luxury beauty sales with increasing demand among consumers for prestige beauty products was announced today by Ms. Falguni Nayar, Founder & CEO Nykaa.com during the press conference held at Taj Bengal, Kolkata. The NYKAA BEAUTY BAR event was attended by: Konenica Banerjee, Suchandra Vaaniya, Alokananda Roy, Raj Lakshmi, Abhishek Dutta, Tejas Gandhi, Farah Zaiki, Gurbir Ahluwalia & many others. This November Nykaa introduced international luxury brands Clinique and Estée Lauder on its Nykaa Luxe platform, which features a range of international and Indian luxury beauty brands. This will follow with the launch of M.A.C and Bobbi Brown, also past of the Estee Lauder Companies Inc. in the next two months.

Product demand suggests that customer’s picks have evolved beyond the basics of lipsticks and kajals, to more sophisticated beauty products like eyebrow mascaras, primers, dry shampoos etc. The evolution of such product choices rests on the two principles of Nykaa to provide the best of curation of beauty products and a robust content offering to help make these choices. To gain more information on the products, customers can browse through DIY videos, reviews and expert recommendations and make an informed pick. This December Nykaa will further enrich its product offering with the launch of leading K-beauty brand Innisfree.

‘Through the last four years, we’ve seen our customers become extremely savvy in their beauty picks. Interestingly, it’s not only the urban consumer who have become more demanding - we see orders coming in from many smaller towns for products like the Toni & Guy Sea Salt Texturizing Spray, or the NYX Pore Refiner or the Corioliss heated hot brush. Our customers trust our offer and are not afraid to make the extra investment in their beauty regime’, says Falguni Nayar, founder & CEO Nykaa.com.

Hosted within the Nykaa.com site, the Nykaa Luxe section offers a unique experience, both with design and content. In order to give customers an in depth understanding of the products, the store also hosts ‘Luxe Letters’ a blog featuring weekly inputs from industry leaders and experts.

Nykaa has seen a 3.5X growth over the past year, and is currently on a net revenue run rate in excess of INR 250 crores. In September 2016, the multi-brand portal raised INR 82.5 crore as part of its Series C funding through private equity and family offices of India's corporate CEOs - the key players being Sunil Kant Munjal, Chairman, Hero Corporate Service P Ltd., Family Office of Harsh Mariwala and TVS Shriram Growth Fund.