Online beauty and fashion retailer Nykaa to add more brands

Nykaa, the online fashion and beauty retailer plans to add more brands to its basket this fiscal. Also on the works are 45 brick-and-mortar stores across the country, up from 35 as of now. The startup was founded in 2012. Nykaa originally launched as an online fashion retailer, later forayed into offline stores. Nykaa has more than 80,000 products across 700 brands, listed on its online portal and mobile app. It sells make-up, skincare, hair care, fragrances, bath and body, luxury and wellness products for women and men. The company also has private label brands across categories like nail paints and fragrances to shower gels and make-up. Last year, Nykaa forayed into premium Indian designer wear with the launch of Nykaa Design Studio.

For the year ended March 2018, Nykaa posted Rs 570 crores revenue, up from Rs 214 crores in the previous year. It posted a loss of Rs 28 crores, down from Rs 36 crores in the previous financial year. The company is targeting Rs 1,200 crores for the year ended March 2019. With the online beauty market expected to double by 2022, the company is looking to increase the brands and categories it offers.