Nykaa opens its 100th store

Nykaa, the cosmetics and fashion beauty retailer, opened its 100th beauty store in Bengaluru on the occasion of International Women’s Day. 

Nykaa retail stores across formats are present in 45 cities, and nearly half of its stores have a presence in Tier 2 and 3 Indian cities. 

“Nykaa is constantly exploring newer pin codes for our retail stores to deepen our reach and to make shopping online and offline entirely seamless. Our focus remains on delivering on-trend, authentic products in line with the ever-evolving consumer behaviour and beauty trends,” said Anchit Nayar, CEO E-commerce Beauty, Nykaa. 

Nykaa operates two formats of beauty stores- ‘Nykaa Luxe’ and ‘Nykaa On Trend’. Nykaa claims that its stores have the capability for hyperlocal delivery, and to accept endless aisle orders, making its entire online assortment available to the store-consumer.

"The personalised consultation offered by 700+ well-trained beauty advisors, who pay special attention to Nykaa’s signature ‘Art of Retailing’, make these stores a destination of choice for consumers," the company's statement said. 

Nykaa's total operational physical store count was 96 as of December 31, 2021 in 45 cities.

For the first nine months (April-December) of FY22, Nykaa reported 23 per cent year-on-year decline in PAT at Rs 33.7 crore. EBITDA margin declined 213 bps at 4.5 per cent from 6.6 per cent in same period of FY21. Revenue from operations, however, rose 65 per cent YoY at Rs 2,801 crore.

Shares of Nykaa on Thursday closed 0.44 per cent lower at Rs 1,394.15 apiece on BSE.