Online retailer of beauty brands Nykaa.Com, founded by former investment banker Falguni Nayar, aims to increase its revenue to Rs 450 crore this fiscal as it introduces more international brands on its platform and expands offline presence in the country.
"We have been witnessing a run rate of Rs 150 crore. Last year, we saw about 4x growth and this year too, it should be about 3x-4x growth," Nayar told PTI.
She added that the average basket size is about Rs 1,400 and premium and luxury products are doing well on its platform.
"We are in discussions with many brands from Korea, Europe. We should get them in the next few months," she said.
Nayar added that the company processes about one lakh orders a month, with 75 per cent of these coming from the mobile platform.
Nykaa.Com is also expanding its range of in-house beauty products under 'Nykaa' brand name. This will include bath and body products, nail paints and will be extended to skin care later on.
"This is an exciting time for us. These first offerings are in line withour commitment to bring quality productsand services at affordable prices... In the next one year or so, we expect the in-house brand to account for 10 per cent of our revenues," Nayar said.
The company had raised USD 9.5 million in funding led by private equity firm in TVS Capital last year. It plans to use the funding to also expand its offline presence.
"We want to be an omni-channel player. We already have a Nykaa store in Delhi and will open six more by the end of this fiscal in Bengaluru, Mumbai, Delhi and smaller cities like Jaipur. We want to have 30 stores by 2020," she said.
