Beauty and fashion retailer expects to achieve more than mid-twenties growth in net revenue on a consolidated level during the October-December quarter.
FSN E-Commerce Ventures, the parent company behind Nykaa, also sees GMV growth for the same period to be lower than mid-twenties growth expected for net revenue, according to an exchange filing.
For its beauty and personal care segment, GMV growth is expected to outpace net revenue growth during the holiday season’s last quarter. The beauty vertical’s GMV is expected to be in the low thirties while net revenue from this segment are expected to be higher than mid twenties.
The eB2B distribution business–Superstore by Nykaa, has been expanding rapidly to service around 2,60,000 transacting retailers across 1,100 cities. The segment currently accounts for 8% of beauty vertical’s GMV, as compared to 7% a year ago.
Its fashion vertical is expected to witness 20% net revenue growth while net Sales value is likely to trend around low to mid-teens driven by strong growth in content, marketing and service related income.
“We believe online fashion demand continues to be subdued, but we remain optimistic about the long-term growth opportunity,” stated the filing.
This comes a month after Nykaa Fashion CEO Nihir Parikh stepped down from his position citing personal commitments. The company is yet to announce a successor for Parikh, whose last day was December 5 2024. Nykaa had earlier onboarded Abhijeet Dabas as the Executive Vice President and Business Head of fashion ecommerce to strengthen its fashion vertical.
