Nykaa profits soar as demand for premium beauty grows
Nykaa has reported its results for the third quarter of fiscal 2024/25. The Indian e-commerce behemoth saw gross profit grow 30 percent yoy to Rs 9,911 million, with revenue up a similarly impressive 27 percent to Rs22,672 million. The post Nykaa profits soar as demand for premium beauty grows appeared first on Global Cosmetics News.
THE WHAT? Nykaa has reported its results for the third quarter of fiscal 2024/25. The Indian e-commerce behemoth saw gross profit grow 30 percent yoy to Rs 9,911 million, with revenue up a similarly impressive 27 percent to Rs22,672 million.
THE DETAILS Parent FSN Ventures said that prestige brands now account for two-thirds of store GMV – a trend which was reflected in the gross margin, up 119 basis points during the quarter. Some 200 beauty brands launched on the platform in the three month period, including Eucerin, Nars and GHD.
THE WHY? Nykaa’s content-led approach has paid off; thanks to its Nykaaland festival and Nykaa Wali Shaadi series, it boasts a reach of more than 1 billion, helping to grow its customer base 29 percent yoy to 40 million.
The post Nykaa profits soar as demand for premium beauty grows appeared first on Global Cosmetics News.
