THE WHAT? Indian beauty and fashion retailer Nykaa has outlined plans to exceed US$5 billion in gross merchandise value (GMV) by fiscal 2030, supported by growth in its beauty and fashion businesses and an expanded physical retail footprint.
THE DETAILS The company expects revenue to increase by two to three times by the year ending March 2030, while EBITDA is projected to grow four to five times, with margins expanding into the low-to-mid teens. Nykaa aims to double or triple GMV in its beauty business from the INR150 billion (US$1.59 billion) recorded in fiscal 2026. The retailer also plans to expand its store network from 313 locations across 99 cities to more than 600 outlets. In fashion, the company is targeting three to three-and-a-half times growth in merchandise sales by fiscal 2030 while achieving high single-digit EBITDA margins. The targets follow a strong performance in recent quarters, including more than 25% growth in merchandise sales, improved beauty and personal care margins, and the fashion business reaching EBITDA profitability. Last month, Nykaa reported its highest quarterly profit since its 2021 stock market debut.
THE WHY? The growth strategy reflects Nykaa’s confidence in rising discretionary spending among Indian consumers and the continued expansion of the country’s beauty and fashion markets. By investing in both digital and physical retail channels, the company aims to strengthen its market position while improving profitability across its core business segments.
Source: Reuters
