Nykaa Targets ₹7,000 Cr GMV for House of Brands

Your favourite beauty and fashion retailer, Nykaa, is planning a big move that could mean more homegrown brands filling up your shopping cart. The company is set to significantly expand its ‘House of Brands’ business, aiming to double its revenue in the coming years.

Nykaa has set an ambitious target to grow its annualised Gross Merchandise Value (GMV) for house brands. This means a lot more choices are coming your way, specifically tailored for Indian consumers.

• Current annualised GMV: ₹3,500 crore
• Target annualised GMV: ₹7,000 crore
• Timeline for growth: Next four years

Growing Homegrown Choices

Adwaita Nayar, co-founder of Nykaa and CEO of Nykaa Fashion, explained the push, noting a strong demand for new, local brands in India. She believes global brands often miss out on specific Indian consumer needs, opening doors for local players to shine.

Currently, Nykaa’s brand portfolio already includes several names you might recognise. These brands cover everything from makeup to personal care and fashion.

• Kay Beauty
• Dot & Key
• Nykaa Cosmetics & Naturals
• Nykd By Nykaa
• KICA

Understanding Indian Shoppers

With over a decade in e-commerce beauty retail, Nykaa has a deep understanding of what Indian consumers look for. This insight helps them pinpoint specific concerns that local products can address.

• Concerns like pigmentation
• Need for specialized sunscreen formulations suitable for Indian skin

To hit its ambitious targets, Nykaa is building a brand-new team dedicated solely to its House of Brands. They are actively recruiting top talent from established brand-building companies.

This strategy involves a mix of acquiring existing brands and creating entirely new ones from scratch. The goal is to strategically fill current gaps in the market with products truly made for you.