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Nykaa Reports 28% Revenue Growth as Profits Triple

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Nykaa Reports 28% Revenue Growth as Profits Triple

THE WHAT? Indian cosmetics retailer Nykaa reported a 28 percent increase in second-quarter fiscal 2027 revenue to INR30.06 billion, while net profit surged 207 percent, supported by growth across its cosmetics business, retail expansion and improved operational efficiency.

THE DETAILS Nykaa, operated by FSN E-Commerce Ventures, reported a 30 percent increase in gross merchandise value (GMV) to INR61.51 billion, while EBITDA rose 65 percent to INR2.63 billion, with margins improving to 8.7 percent. Its cosmetics division recorded GMV of INR44.54 billion, supported by the introduction of more than 330 brands over the past year, including Yves Rocher, Oribe and Mamonde. The company expanded its physical retail network to 338 stores across 111 Indian cities, while its B2B distribution platform, Superstore by Nykaa, increased its registered retailer base by 27 percent to more than 550,000. Nykaa also announced an agreement to acquire an 82 percent stake in premium cosmetics brand Simply Nam, subject to regulatory approvals, strengthening its professional make-up portfolio.

THE WHY? The results highlight the continued expansion of India’s cosmetics market and the growing importance of integrated retail, distribution and brand ownership strategies. Nykaa’s investment in physical stores, B2B distribution and premium cosmetics acquisitions strengthens its competitive position while creating additional market access opportunities for international manufacturers and emerging Indian brands.



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