 "Online beauty and wellness venture Nykaa plans to launch its own products")
Nykaa, an online beauty and wellness retail company based out of Mumbai, is planning to launch its own in-house brands, in August this year. To begin with, the company is looking to launch its own branded fragrance-based bath and body products, before getting into other segments, Falguni Nayar, founder and CEO, Nykaa, said.
“These will be developed by Indian manufacturers on a contract-manufacturing basis. These manufacturers will work closely with our product-development team of Nykaa,” said Nayar. Nykaa is also planning to foray into import and distribution business by partnering with exclusive importers for a number of skincare brands, especially from France.
The brainchild of Nayar, a former investment banker and broker with the Kotak Mahindra Group, Nykaa launched its operations in 2012 though the e-commerce platform went live in 2013. During the past two years, the company has seen a year-on-year growth rate of around 5x. By the end of the current financial year, Nykaa aims to have a turnover of around Rs 100 crore, with a gross margin of 25-30 per cent.
With a physical store at the T3 terminal of Delhi’s Indira Gandhi International Airport, Nykaa has already made its way to be an omni-channel player. The beauty and wellness retailer also plans to open three more offline stores in Mumbai, Delhi and Bengaluru, soon. “These three will be basically mall-based outlets,” said Adwaita Nayar, chief operating officer at Nykaa.
The company will soon be closing a Rs 50-crore funding. Last year, it had raised Rs 20 crore from family and high networth individuals (HNIs).
Amazon, Flipkart and Purplle, who also sell beauty and wellness products, are the direct competitors to Nykaa.
“These will be developed by Indian manufacturers on a contract-manufacturing basis. These manufacturers will work closely with our product-development team of Nykaa,” said Nayar. Nykaa is also planning to foray into import and distribution business by partnering with exclusive importers for a number of skincare brands, especially from France.
The brainchild of Nayar, a former investment banker and broker with the Kotak Mahindra Group, Nykaa launched its operations in 2012 though the e-commerce platform went live in 2013. During the past two years, the company has seen a year-on-year growth rate of around 5x. By the end of the current financial year, Nykaa aims to have a turnover of around Rs 100 crore, with a gross margin of 25-30 per cent.
With a physical store at the T3 terminal of Delhi’s Indira Gandhi International Airport, Nykaa has already made its way to be an omni-channel player. The beauty and wellness retailer also plans to open three more offline stores in Mumbai, Delhi and Bengaluru, soon. “These three will be basically mall-based outlets,” said Adwaita Nayar, chief operating officer at Nykaa.
The company will soon be closing a Rs 50-crore funding. Last year, it had raised Rs 20 crore from family and high networth individuals (HNIs).
Amazon, Flipkart and Purplle, who also sell beauty and wellness products, are the direct competitors to Nykaa.