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Tag: Nykaa

  • Virgio now available on Nykaa and Myntra

    Virgio now available on Nykaa and Myntra

    Mumbai: Virgio, a trend-focused, sustainable fashion brand is proud to announce its debut on two of India’s leading marketplaces, Nykaa and Myntra. This strategic move is to make the brand’s eco-conscious collections more accessible to the environmentally-conscious consumers across the nation.

    Virgio stands out in the fashion industry as The Only Good Fashion Company for its unwavering commitment to circularity without compromising on style and quality. As the demand for pro-planet fashion continues to rise, Virgio remains at the forefront of innovation, constantly exploring eco-friendly materials, carbon footprint mapping, smart QR code labels and ethical manufacturing processes. By embracing circularity as a core principle, the brand strives to inspire positive change within the fashion industry and beyond.

    “We are thrilled to partner with Nykaa and Myntra, two esteemed platforms known for their commitment to quality and innovation,” says Amar Nagaram, CEO and Co-founder, Virgio. “This collaboration not only expands our reach but also amplifies our message of circularity in fashion. We believe that style should not come at the cost of the planet, and our presence on Nykaa and Myntra reinforces our dedication to this ethos.”

    Customers browsing Nykaa and Myntra can now explore Virgio’s diverse range of eco-conscious clothing, including chic apparel crafted from earth-friendly, natural fabrics, recycled fabrics, and sustainable alternatives. From everyday essentials to statement pieces, each garment reflects the brand’s values of environmental responsibility and social consciousness.

     

  • IDCA inaugurates third Test National Cricket Championship for Deaf 2024 with Serum Institute of India

    IDCA inaugurates third Test National Cricket Championship for Deaf 2024 with Serum Institute of India

    Mumbai: Indian Deaf Cricket Association (IDCA) thirrd Test National Cricket Championship for Deaf 2024, organised in association with Serum Institute of India (a part of Cyrus Poonawalla Group), was formally inaugurated in a glittering ceremony by the chief guest Santosh Kumar Rai, District Magistrate South-East, Delhi.

    The inaugural ceremony was attended by a galaxy of dignitaries from the cricket and corporate world, supporting this IDCA 3rd Test National Cricket Championship for Deaf 2024. Dev Dutt, BCCI certified coach also joined the event.

    Guests of Honour

    1.    Jaswinder Narang, CEO, Villoo Poonawalla Foundation, representing Serum Institute of India, Cyrus Poonawalla Group, principal partner
    2.    B P Sharma, Director – Central Vigilance Commission, New Delhi
    3.    Rajesh Gehlot, BJP – Delhi
    4.    Shailendra Solanki, Chairman – Venkateshwara International School, Dwarka, New Delhi.
    5.    Dr Nirav Patel, Assistant Commission of Police, Delhi Police
    6.    Rajesh Dogra, ACP – Delhi Police

    Dedicated to nurturing upcoming sports talent among specially-abled youth, Serum Institute of India, a part of Cyrus Poonawalla Group, has joined hands with IDCA as the principal partner. In this role, the group will extend full support to IDCA for the hearing-impaired men’s tournament as they compete to win the coveted cup.

    Addressing the gathering at the inaugural ceremony, former cricketer and chief guest, Santosh Kumar Rai, District Magistrate South East, Delhi said, “It is a proud moment for me to be associated with 3rdIDCA National Cricket Championship. This league provides a platform for specially-abled men to showcase their talent. They have worked really hard towards it, and I am truly glad to be associated with them. I am also thankful to all partners who are supporting this cause, and I look forward to being a part of it for the years to come. This is indeed a proud moment for me, and together by doing our bit, we can make a big impact for specially-abled men. Let’s help them dream and believe that they too can achieve great heights.”

    Speaking at the inaugural ceremony, IDCA president Sumit Jain said, “Today is an important tournament as it signals IDCA’s focus on promoting not only world-class cricket, but emphasis on nurturing diversity and inclusion. All our partners share our vision and are committed to helping hearing-impaired cricketing talent and join the ‘DaretoDream’ movement to mainstream these players who have won many accolades for India. This is also a very special tournament as it is the 3rd National Cricket Championship in 2024.”

    IDCA CEO Roma Balwani commented, “We are truly honoured by the presence of dignitaries who have come today to celebrate and motivate these hearing-impaired men of substance, who will demonstrate their prowess on the cricket field. Our Hon’ble Prime Minister Shri Modiji has been championing the cause of disability sports in a significant way. He has also promoted the universal usage of sign language which will create more awareness and help break barriers for the hearing-impaired members of communities at large”.  

    IDCA patron Reena Jain Malhotra welcoming the chief guest and guest of honour at the inaugural ceremony, said, “It is a special moment for us at IDCA to see four different states coming together to play the prestigious 3rd IDCA National Cricket Championship. We are very thankful to all our support partners for their belief in the cause of hearing-impaired cricket. We hope to nurture and make it bigger and better in the years to come”.

    In support are IDCA’s long-term partners, KFC India, Hero Moto Corp, Nykaa, Impact Research, Cognito & Kaizzen.

  • Pink Love Sale live on Nykaa & Nykaa Fashion

    Pink Love Sale live on Nykaa & Nykaa Fashion

    Mumbai: With the season of love, comes the season of celebrating with all things lovely.  India’s most loved beauty and fashion sale extravaganza is here – with deals you cannot miss. Nykaa’s annual Pink Love Sale commences on 9 February and is ready to set the tone for love, romance, celebration and joy with unbelievable steals and deals in both beauty and fashion! So, if you don’t already have the two apps (Nykaa & Nykaa Fashion), this is your cue to download them now!

    We’re bringing you all the loved beauty essentials — must-have makeup, skincare, and hair care at upto whopping 50 per cent off on top brands such as Lakme, Maybelline, Nykaa Cosmetics and Tresseme along with amazing gifts on purchase of luxe products from brands like MAC, Kiehls and Huda Beauty. If you are impressed with Beauty, let us tell you that, on Nykaa Fashion, 2600 plus brands from international bestsellers, iconic collaborations, runway trends, and homegrown staples are up to 80 per cent off. Expect never-seen-before offers on RSVP, Twenty Dresses, Gajra Gang, Label Shaurya Sanadhya, Odette, Revolve, Ritu Kumar, Pipa Bella, Azai, and others.

    With the widest selection of 100 per cent authentic products from international bestsellers, iconic collaborations, runway trends, homegrown staples, free shipping and with over 5000 plus brands across beauty and fashion to choose from- this is one event you simply cannot and must not miss.

    On Nykaa Beauty: Major savings on luxe brands with M.A.C at flat 15 per cent off, HUDA beauty at upto 50 per cent off, Charlotte Tilbury at upto 20 per cent off, Buy two get one on Estee Lauder and Kama Ayurveda offerings, Too Faced at flat 20 per cent off and Laneige at upto 25 per cent off; last but not the least Yves Saint Laurent at flat 10 per cent off.

    Mega deals on makeup with brands such as Maybelline, Nykaa Cosmetics, Lakme, Kay Beauty, at upto 50 per cent off and brands like Bobbi Brown, Smashbox, e.l.f. Cosmetics at flat 20 per cent off.

    Skincare is not far behind with the much-revered COSRX at flat 20 per cent off and Buy two get one offer on Minimalist. Stock up on your shelf residents such as Cetaphil, Dot & Ke, Clinique, Plum, Neutrogena among others at up to 30 per cent off. Managing your mane was never this easy with Anomaly on buy one get one, Nykaa Naturals at 50 per cent off, L’Oreal Paris on 40 per cent off and Schwarzkopf Professional with minimum 20 per cent off.

    On Nykaa Fashion: With stylish gifts on every order, ample giveaways, exclusive offers on the latest drops, flash sales and more, rest assured that you will #StayStylish regardless of the occasion this season:

    •  Loved brands and styles from across the globe: Celeb-loved Revolve, Lipsy, Cider, Little Mistress, NA-KD at up to 80 per cent off and more. Among Indian brands, brands like Biba, Kalki Fashion, AutumnLane, W will be available at upto 60 per cent off
    • Heartland Pride: From #HiddenGems, brands such as Janasya at upto 80 per cent off, Aarke Ritu Kumar, Scakhi, Swatantra, Truebrown, Odette, upto 65 per cent off Chidiyaa, Teekhi Imli, Gayraa, Label Shaurya Sanadhya upto 55 per cent off, Everbloom, Gillori at 10  per cent off, and so much more
    • Lovely LUXE: What is Pink Love Sale, if it doesn’t make long-time designer wear dreams come true? Well with brands like House of Ritu Kumar at up to 65 per cent off,  Aanchal Sayal and Outhouse starting at Rs2,500, Masaba starting at Rs 990 (all products) and Rs 5,000 (apparel), Paulami and Harsh starting at Rs 8,500 and Love to Bag starting at Rs 4,400 among others
    • With love, from Nykaa Fashion’s house of brands: Get ready to pamper yourself as Nykaa’s house of brands has some of the most fetching deals. Fan favourites like MIXT, RSVP and Twenty Dresses, Likha, Gajra Gang, Nyri will be available upto 70 per cent
    • More and more, expect top accessory brands such as Yellow Chimes, Priyaasi, Pansh at upto 80 per cent off, Accessorize London and Aldo at up to 60  per cent off, Guess upto 40 per cent, Lavie and Caprese at upto 70 per cent off, Pipa Bella, Azai and Giva up to 50  per cent off

    Additionally, enjoy up to 70 per cent off on home, men’s and kids category as well to ensure you share the love .

    Hit the Nykaa and Nykaa Fashion app and shop now.

  • Strong growth in consolidated GMV at 29 per cent YoY: Nykaa’s 31 December 2023 quarter result

    Strong growth in consolidated GMV at 29 per cent YoY: Nykaa’s 31 December 2023 quarter result

    Mumbai: FSN E-Commerce Ventures Ltd (referred as “Nykaa” or the “company”), has announced its financial results for the quarter ended 31 December 2023.

    Financial Highlights:

    • Financial Highlights Summary:

    o GMV grew 29 per cent YoY to ₹ 36,194 million in Q3 FY2024

    o Revenue from Operations grew 22 per cent YoY to ₹ 17,888 million in the quarter.  

    o Gross Margin grew 20 per cent YoY to ₹ 7,607 million in the quarter. Gross Margin stood at 42.5 per cent.  

    o EBITDA grew 26 per cent YoY to ₹ 988 million in Q3 FY2024.

    o EBITDA margin was 5.5 per cent in Q3 FY2024 vs 5.3 per cent in Q3 FY2023. Adjusted for ESOP and new Business expenses (multi-brand retail  operations in GCC, ‘Nysaa’), EBITDA margin was 6.1 per cent for Q3 FY2024

    o Profit before Tax grew 109 per cent YoY to ₹ 265 million in Q3 FY2024 and,

    o Net Profit for the Period grew 106 per cent YoY to ₹ 175 million.

    o PAT Margin was 1.0 per cent in Q3 FY2024 vs 0.6 per cent in Q3 FY2023.

    • The consolidated revenue from operations continues to grow at a strong pace of 22 per cent YoY, totaling ₹ 17,888 million for the quarter.  

    • We continue to drive improvement in profitability. EBITDA margin expanded to 5.5 per cent for the quarter, a growth of 26 per cent YoY driven by direct and indirect  costs efficiencies. Fulfilment cost as a  per cent to Revenue stood at 9.6 per cent for the quarter, compared to 10.7 per cent in Q3 FY2023. Similarly, employee expense as  a  per cent to Revenue stood at 8.3 per cent for the quarter, compared to 8.7 per cent in Q3 FY2023, witnessing improvements through the last few quarters.

    • During the quarter, we rolled out the ESOP grants for critical and top talent across the organization levels, which is now reflecting in our employee  expenses. Adjusted for ESOP and new business expenses (multibrand retail operations in GCC, ‘Nysaa’), our EBITDA margin would have been  6.1 per cent.

    • PBT and Net Profit witnessed strong growth of 109 per cent YoY and 106 per cent YoY, and stood at ₹ 265 Million and ₹ 175 million, respectively.

    Business Highlights:

    Beauty & Personal Care (BPC)

    • The consolidated BPC GMV witnessed an industry leading growth of 25 per cent YoY, as we continue to gain share while being the largest specialty  beauty retailer of the country. NSV growth stood at 20 per cent YoY primarily due to higher discounting by brands in mass and masstige segment.  

    • Physical retail footprint continues to expand with 39 new stores launched over the last 4 quarters, totalling 174 stores as of December 31, 2023. The  retail business now contributes to over 9 per cent of the overall BPC GMV while also continuing to improve profitability. This is reflected in EBITDA  improvement of 35 per cent YoY. Our retail stores are critical to omnichannel strategy of premium brands. 85 plus premium brands are present across our store  network and contribute over 2/3rd to our offline GMV.

    • Our owned brands in beauty experienced a strong GMV and NSV growth of 40 per cent YoY and 36 per cent YoY respectively with 3 brands witnessing significant scale. Dot & Key – our new age D2C skin care brand is now at a Rs. 5,000 million GMV run rate, scaling 8x since its acquisition. Nykaa  Cosmetics continues to receive much customer love and has achieved a Rs. 4,000 million GMV run rate. Kay Beauty, India’s largest celebrity beauty  brand, has witnessed rapid growth and acceptance, achieving over Rs. 2,000 million GMV run rate, within 4 years of launch.  

    • Nykaaland hosted in Nov 2023, was India’s biggest beauty festival held in Mumbai over 2 days, which saw 15,000 plus attendees and participation  from a unique assortment of 80 plus global and local brands across categories. The first-ever festival featured brand booths, along with masterclasses,  interactive games, installations, music, food and more. Close to 5,000 participants attended 12 masterclasses hosted by industry experts. Acclaimed  american makeup artist Mario Dedivanonic brought his masterclass to India for the first time at the festival. This innovative first of its kind event,  received overwhelming positive response from both brands & consumers. The event generated significant online reach with over 5.5 billion  impressions.

    Fashion

    • This fashion GMV witnessed a strong growth of 40 per cent YoY led by strong growth across all metrics. Our annual unique transacting customer (AUTC)  grew at 23 per cent YoY to 2.9 million, Order growth at stood at 19 per cent YoY and AOV were up 18 per cent YoY, as on December 31, 2023.

    • Our fashion business is showing consistent improvement in profitability reflecting our platform strength and quality of our customers. Contribution  margin as a  per cent to NSV for Nykaa Fashion improved by 510 bps and stood at 6.0 per cent in Q3 FY2024 vs 0.9 per cent in Q3 FY2023. This was supported by  strong improvement in our marketing expenses, down to 23.9 per cent vs 28.6 per cent a year ago.

    • During the quarter, we entered into a long-term strategic partnership with Foot locker, a New York-based specialty athletic retailer. Nykaa Fashion  will serve as the exclusive e-commerce partner and operate Foot Locker’s India website and retail authorized merchandise on Foot Locker branded  shop on Nykaa’s existing ecommerce platforms. This partnership strengthens Nykaa’s position as a destination for premium curated assortment.

    Others/New Businesses

    • New businesses at Nykaa, which includes our distribution business, (which primarily constitutes Superstore by Nykaa), Nykaa Man, International,  content led platform LBB and our wellness brand Nudge, continues to further our BPC industry reach. New Businesses NSV of ₹1,309 million at Q3 FY2024, is now a meaningful share of business.  

    • The distribution business continues to grow exponentially, with NSV growth of 88 per cent YoY during Q3 FY2024. Within 2 years of launch, Superstore scaled up over 31x on GMV and now serves almost 1.5 Lakhs transacting retailers across 950 cities as on December 31, 2023.

    • The distribution business has achieved scale with improving profitability with contribution margin as a  per cent to NSV improving 766 bps YoY. This is  supported by several initiatives which led to improvement in pre delivery leakages, optimization of fulfilment and selling & distribution expenses.

    Pink Friday Sale

    • This year our annual flagship sale “Pink Friday Sale” was hosted in Nov 2023 across our online platforms – Beauty, Fashion & Man as well as our offline stores. This unified sale across platforms has brought in record numbers this year, with about 50 million unique visitors across our platforms and stores in 10 days.

    o Beauty: Being India’s largest beauty sale, the beauty numbers have witnessed exponential growth scaling 10x over the last 5 years. The rise of disposable incomes driving premiumization is evidenced strongly by the demand for luxury products witnessed during this Pink Friday.  Premium and Luxury brands outperformed contributing 1/3rd to overall GMV and growing at 32 per cent YoY.

    o Retail Stores: The growing love for Pink Friday Sale led to 50 per cent increase in footfall compared to regular days. With higher conversions, the  GMV grew even faster than footfalls, witnessing 67 per cent YoY growth.

    o Fashion: “Pink Friday Sale” for fashion has scaled significantly with 5x GMV growth over last 2 years and has grown over 85 per cent YoY. This was  driven by strong improvement in order conversion along with Women’s western wear and bag and footwear category outperforming, with GMV  growth of 120 per cent plus and 150 per cent plus YoY respectively.

    Other announcements

    The company’s board has approved group business restructuring initiatives towards bringing operational synergies by streamlining business operations across entities.

    • Further investment by the company in Nykaa Fashion  Ltd by way of rights issue: FSN E-Commerce Ventures  Ltd is infusing additional equity into Nykaa Fashion  Ltd to be utilised for repayment of loans given by the Company.

    • Acquisition of Lingerie & Athleisure business by way of slump sale from Nykaa Fashion Ltd to FSN E-Commerce Ventures  Ltd: The  board has approved to consolidate the Athleisure and Lingerie business of Nykaa Fashion  Ltd, which is a wholly owned subsidiary of the  Company, into FSN E-commerce Ventures  Ltd. This will help to streamline and consolidate owned brand business in a single entity in a phased manner, similar to beauty-owned brands business which are already within FSN E-commerce Ventures Ltd.

    • Demerger of eB2B business from FSN Distribution to Nykaa E-Retail: The board has approved demerger of eB2B business “Superstore by  Nykaa” from FSN Distribution  Ltd to Nykaa E-Retail Ltd. This will help consolidate our online beauty business in a single entity. The proposed demerger will drive synergies in two businesses that have common physical and technology infrastructure, common brand partners as well as are involved in the retail/distribution of common products. The scheme is subject to necessary regulatory and stakeholder approval.

    Our Consolidated results include results of wholly owned subsidiaries along with Kay Beauty, Dot & Key, Nudge, LBB and associate Earth Rhythm. 

  • Nykaa’s annual Pink Friday Sale is back with the year’s biggest deals!

    Nykaa’s annual Pink Friday Sale is back with the year’s biggest deals!

    Mumbai: The biggest beauty sale of the year is back as Nykaa’s annual Pink Friday Sale starts on 23rd November, with deals and steals that are bigger and better than ever. So get ready to step into the beauty-verse with deals that are out of this world, going up to 50% off on over 2,100 brands, including hot favorites such as Huda Beauty, M.A.C, Bobbi Brown, Charlotte Tilbury, Nykaa Cosmetics, Kay Beauty, Lakmé, Maybelline New York and L’Oréal Paris. With the widest selection of 100% authentic products, ranging from international bestsellers and iconic collaborations to runway trends and homegrown staples, all with the added bonus of free shipping and easy 15-day returns, Nykaa is the destination to be at! Expect amazing 1+1 deals from loved brands, interactions with the biggest Indian influencers via Nykaa Stream, exclusive treats and early access for Nykaa’s Privé Platinum and Gold members!

    If you are a Nykaa Prive Platinum or Gold member, then you get early access to the best curations and deals a whole 24 hours early on 22nd November from 4 PM onwards! And if you are a new user, you can get an additional 20% off on your purchases.

    Talking about the sale, Nykaa Beauty CEO & executive director Anchit Nayar said, “We are excited to bring India’s biggest annual beauty festival to shoppers this season. Nykaa’s flagship Pink Friday sale has become much-awaited over the years, witnessing tremendous customer engagement and brand love. With leading international brands offering deals for the very first time, we are thrilled to be the ultimate beauty destination for millions of consumers online and across our 165 stores. From luxury international cult favorites to homegrown bestsellers, Pink Friday promises to cater to all kinds of beauty shoppers, further solidifying Nykaa’s position as a premier destination for unparalleled beauty experiences.”

    Here’s a special sneak peek into the jaw-dropping deals that await you on the other side of your phone screen!

    1   Best Luxury deals: Charlotte Tilbury, the iconic luxury makeup brand from the UK, is offering a whopping 25% markdown on its entire selection, you can grab the most iconic palettes from global bestseller Huda Beauty at a flat 50% off. This is also your chance to grab the always-in-demand M.A.C and Clinique at up to 20% off and get freebies on Estee Lauder and a buy-1-get-1 on Bobbi Brown

    2   Everyone’s favorites: L’Oreal Paris is offering up to 35% off, Maybelline is at 45% and L’Oreal Professionnel is giving away free minis on purchases of  ₹1199+

    3   Most-loved: Bestsellers from Lakme and Nykaa Cosmetics are at up to 50%. Colorbar has a stellar buy-1-get-1 free and so does the globally trending e.l.f. Cosmetics on their makeup range

    4   Superstar brands: Priyanka Chopra Jonas’ Anomaly is doling out hair essentials at a buy-1-get-1-free offer, and Katrina Kaif’s own Kay Beauty has a solid 40% off for shoppers. Your favorite skincare brands have some great deals too! Dot & Key is offering up to 30% off on its goodies. Plum, on the other hand, has a markdown of FLAT 30% on its complete range! There isn’t a better time to stock up on skincare staples from The Ordinary with buy 2 pick 1 free

  • Nykaa strengthens its dermo cosmetic portfolio with the addition of CeraVe

    Nykaa strengthens its dermo cosmetic portfolio with the addition of CeraVe

    Mumbai: Nykaa, India’s most preferred beauty and skincare destination, is proud to announce the expansion of its dermo-cosmetic portfolio with the addition of CeraVe, the dermatologist-recommended brand in the US. This addition reinforces Nykaa’s commitment to becoming the go-to destination for dermo-cosmetic brands, offering a comprehensive platform for Indian health seekers to access expert solutions, book dermatological consultations, and conveniently purchase dermatologist-recommended products.

    Nykaa’s dermo-cosmetic portfolio extends beyond CeraVe, featuring 25 renowned brands such as Cetaphil, Sebamed, Neutrogena, Bioderma, Isdin, and Aveeno, all of which have experienced remarkable growth on the platform. Beyond onboarding brands, Nykaa has taken several innovative steps to establish itself as the foremost dermo-cosmetic destination, and this decision is deeply rooted in consumer insights and demands. The website and app feature a dedicated dermo-cosmetic environment, providing users with a seamless and specialised shopping experience. Additionally, a dermat-powered chatbot is available to assist consumers with their queries, showcasing Nykaa’s commitment to actively listen to consumer needs and offer valuable information and guidance.

    Recognising the importance of community and expert guidance, Nykaa launched CSMS – a specialised four-step routine for Indian skin, created in partnership with 100 dermatologists across 13 cities. Building on the work done with dermatologists, Nykaa launched the Dermat Circle, anchored by some of the country’s leading skincare authorities such as Dr. Kiran Sethi MD, Dr. Aanchal Panth, Dr. Jushya Bhatia Sarin, and Dr. Madhuri Agarwal, to foster a safe space for shared knowledge and expert advice. Nykaa has also introduced the innovative Dial-a-Dermat feature, allowing consumers to easily connect with dermatologists, book appointments, and seek advice directly through the app.

    “CeraVe has been one of the most widely requested brands on our platform and we are thrilled to welcome them into Nykaa’s dermo-cosmetic portfolio,” said Nykaa beauty executive director & CEO Anchit Nayar. “This addition made possible through our strong partnership with L’Oréal India and LDB (L’Oréal Dermatological Beauty), reaffirms our dedication to providing a comprehensive platform for dermatological care. The remarkable growth of the dermo-cosmetic category underscores the increasing demand for expert skincare solutions, and Nykaa is proud to lead the way in meeting the evolving needs of the Indian beauty consumer.” 

  • Empowering futures: Celebrating women entrepreneurs on Women’s Entrepreneurship Day

    Empowering futures: Celebrating women entrepreneurs on Women’s Entrepreneurship Day

    Mumbai: On Women’s Entrepreneurship Day, we proudly celebrate the indomitable spirit and achievements of visionary women who are reshaping industries, breaking barriers, and driving innovation. This listicle is dedicated to highlighting the remarkable impact of outstanding Indian women entrepreneurs across diverse sectors, acknowledging their pivotal roles as trailblazers, leaders, and advocates of positive change. Join us in honouring their contributions as we shine a spotlight on their transformative journeys.

    Nykaa – Falguni Nayar:

    Nykaa Falguni founder and CEO Nayar, is a trailblazer in the beauty and cosmetics industry. Her entrepreneurial journey not only showcases the possibilities for success but also emphasises innovation in the beauty sector. Falguni’s unwavering pursuit of quality and a seamless shopping experience redefines beauty retail, setting a high standard for customer satisfaction. On Women’s Entrepreneurship Day, she stands as an inspiration, proving that determination and creativity can revolutionise any industry.

    Mama Earth – Ghazal Alagh:

    Mama Earth CEO and co-founder Ghazal Alagh, stands as a beacon for sustainable entrepreneurship. Her dedication to creating safe, natural, and eco-friendly products for mothers and babies has transformed the personal care industry. Beyond entrepreneurship, Ghazal actively advocates for responsible business practices, embodying the ethos of Women’s Entrepreneurship Day. On this occasion, we celebrate Ghazal’s commitment to sustainability and her innovative contributions, inspiring a new wave of socially responsible entrepreneurs.

    QuoDeck – Kamalika Bhattacharya:

    QuoDeck CEO and co-founder Kamalika Bhattacharya continues to lead on Women’s Entrepreneurship Day. Her pioneering work in B2B SaaS Digital Engagement and Enablement has revolutionised employee engagement and training. Kamalika’s innovative approach, passion for learning outcomes, and commitment to serving Fortune 500 clients have positioned QuoDeck as a leader in personalised, engaging, and mobile-friendly learning experiences. On this day, we applaud Kamalika’s unwavering dedication to reshaping corporate learning for the better.

    Pristyn Care – Dr. Garima Sawhney:

    Pristyn Care founder Dr. Garima Sawhney, stands tall as a healthcare trailblazer on Women’s Entrepreneurship Day. Her revolutionary approach focuses on providing high-quality, in-home healthcare services. Dr. Sawhney’s commitment to accessible healthcare not only impacts the industry but also exemplifies the leadership and innovation integral to Women’s Entrepreneurship Day. On this day, we recognize Dr. Garima Sawhney’s transformative impact on healthcare accessibility, creating a path for future entrepreneurs to follow.

    Kalaari Capital – Vani Kola:

    Kalaari Capital managing director Vani Kola plays a vital role in shaping the Indian startup ecosystem. Her strategic investments, mentorship, and commitment to innovation have driven the success of numerous startups. Vani’s influence extends beyond investments; she actively fosters a dynamic startup culture in India, embodying the spirit of Women’s Entrepreneurship Day. On this day, we celebrate Vani’s pivotal role in empowering the startup landscape and her continuous efforts to elevate the entrepreneurial spirit in India.

    As we commemorate Women’s Entrepreneurship Day, these remarkable entrepreneurs serve as catalysts for change, embodying innovation, determination, and leadership. Their stories resonate beyond borders, inspiring the next generation and proving that passion and dedication know no limits. On this Women’s Entrepreneurship Day, we salute their extraordinary contributions, empowering futures and leaving an indelible mark on the ever-evolving landscape of business.

  • Nykaa announces Q2FY24 results

    Nykaa announces Q2FY24 results

    Mumbai: Nykaa has announced its financial results for the quarter ended September 2023 on 6 November. The company reported a net profit of Rs 7.8 crore for the quarter under review,  a 50 per cent rise from the year-ago period. Nykaa reported a net profit of Rs 5.42 crore in the June quarter.

    The growth was driven by the e-commerce’s beauty and personal care (BPC) business.

    Revenue from operations climbed 22 per cent to Rs 1,507 crore for the quarter under review, from Rs 1,230.82 crore a year ago. Nykaa noted that the revenue rose in the quarter despite the delay in the festive season as compared to the previous year.

    Nykaa noted that the physical retail business continued to expand post-COVID on the back of 13 new stores launched in the quarter, taking the total number of stores to 165 as of 30 September 2023. The retail business now constitutes 8 per cent of the overall beauty and personal care gross merchandise value. Nykaa’s brands in beauty experienced Net Sales Value growth of close to 21 per cent year-on-year.

    Nykaa also reported that the consolidated revenue from operations from its fashion business stood at Rs 130.5 crore in Q2FY24, marking an on-year growth of 28 per cent.

    The shares of the company also ended 5 per cent higher on 6 November, ahead of the announcement of its quarterly numbers.

  • India’s DPDP Bill – a win-win for consumer tech platforms

    India’s DPDP Bill – a win-win for consumer tech platforms

    Mumbai: India’s Digital Personal Data Protection (DPDP) Bill, is expected to be implemented over the next six to eight months in a phased manner; hefty penalties have been imposed for breach of data. This Bill will have a positive impact on companies/platforms that use first party data, whereas players using or sharing third party data (Google cookies, publisher platforms) could see a negative impact; this could potentially mean that sourcing data may become an expensive proposition for programmatic companies like Affle, as they may need to invest in enhancing their own database (first party). This Bill mirrors UK’s GDPR (General Data Protection Regulation) in terms of the major norms mentioned therein. Internet platforms like Zomato, Nykaa, Paytm etc may have relatively lesser monthly active users (MAU’s) as compared to social/search giants like YouTube, Meta, however the former has a detailed understanding of their limited customer base, with more intelligence around their purchasing/consumption patterns; e-commerce giants like Amazon, Flipkart too will have a big edge due to data protection, as they can earn ad. revenue with the help of their first party data, which will help provide better monetisation and profitability over the medium term.

    Long haul for implementation of the DPDP Bill (six to eight months)

    The DPDP (Digital Personal Data Protection) act, which has been highly anticipated, has been in the works for the past four to five years. Numerous drafts have been exchanged and extensive input has been gathered from the industry stakeholders. Although the Bill is set to take effect on 11 August 2023, its actual implementation has not yet occurred. Currently, the sections have not been enforced, but there are plans to assign specific dates for the phased implementation of these sections.

    The scope of its applicability extends to all forms of digitised or digital personal data. Notably, the act also holds extraterritorial jurisdiction. This means that all entities, including those located outside of India, that process data to offer data services within the country, will be obligated to adhere to the provisions of the act. The Bill is anticipated to bring about a positive impact. India is undergoing rapid digital transformation, and with such swift digitization, there’s a substantial amount at risk. Considering the challenges posed by data leaks, the implementation of this law is crucial. It will establish a regulatory framework that offers a cleaner environment for the transmission and processing of personal data.

    Substantial penalties for non compliance/data privacy breach

    The entirety of the act’s liability is placed upon the data fiduciary. The responsibility for implementing safeguards to ensure data protection also falls solely on the data fiduciary. Implementing the requirements should not pose a significant challenge for data fiduciaries, provided they approach it with seriousness and a willingness to comply. The Bill makes it obligatory to report breaches of the principles, regardless of whether the breach is categorized as a high-security breach or not. Entities will undoubtedly feel apprehensive about the substantial penalties, given their magnitude. Data fiduciaries have a responsibility to uphold reasonable security measures for personal data when processing such information. Failure to inform both the board and the principle in case of a data breach can lead to significant fines being imposed. Rather than waiting for the possibility of never being reported and taking on the associated risks, companies could proactively reach out to a wider customer base about the data leak. This approach would involve enhancing compliance efforts and demonstrating a commitment to addressing the issue.

    Contents of the DPDP Act have been drawn heavily from EU’s GDPR

    The Indian legislation has drawn significant inspiration from the EU’s General Data Protection Regulation (GDPR) and is built upon its framework. The authorities have analysed the real-world challenges that arose with GDPR and incorporated those insights into the crafting of this Bill. The primary objective is to ensure the responsible processing of personal data and establish robust data privacy rights for individuals. Both regulations emphasize the handling of personal data through consent, although there are specific scenarios where consent might not be obligatory. The Government has skilfully navigated the task by avoiding excessive amendments and appropriately identifying areas of overlap with other laws.

    Ad-tech players could face challenges in accessing third-party data

    It is believed that targeted advertising technology companies operating in this domain and relying on third-party data for tailored advertisements will encounter additional challenges. Since they don’t directly gather the data, using third-party data will demand heightened attention. Employing third-party data should make you more cautious, vigilant, and well-informed about the methods of data collection. Ensuring the integrity of the data used for crafting targeted advertisements becomes imperative to prevent any form of contamination. Well-established players involved in collecting, distributing, or selling data would undoubtedly need to swiftly adapt to the provisions of this new act. These programmatic ads. tech players could resort to either 1) Investing into their own database or 2) Recover the higher the costs from clients via higher pricing.

    Broad based implementation – across small and large enterprises

    Small businesses, lacking substantial resources to engage established players, are focusing on diligently ensuring proper compliance. They recognize that firsthand data collection is significantly preferable to relying on third-party data access. Bigger technology companies might be required to establish compliance requirements slightly ahead of smaller players and startups. The law takes a somewhat more lenient stance toward startups. It’s anticipated that there will be a window of around six to ten months before full implementation is expected.

    Safety of consumers/children an added benefit apart from privacy

    Companies operating multiple businesses might find common ground internally, where data exchange occurs among their various segments or units by following proper compliance. This aspect should be regarded as a protective measure for sharing information securely. In the case of large tech giants, they will have to adhere to the supplementary data requirements. These companies heavily rely on technology, so many of the obligations are likely already integrated into their operations. The introduction of this regulation could bring about a positive impact, leading to an enhanced safety net. Regarding children’s data, obtaining verifiable parental consent is a requisite. The act has established a mechanism for addressing grievances within its provisions. The composition of the board is explicitly outlined in the act.

    The credit of this article goes to Elara Capital senior vice president- research analyst Karan Taurani.

  • Empowered minds: Women entrepreneurs driving change in India

    Empowered minds: Women entrepreneurs driving change in India

    Mumbai: Amidst the colorful and dynamic realm of Indian entrepreneurship, a formidable force of change and innovation has emerged in the form of women entrepreneurs. Challenging societal norms and breaking barriers, several visionary women have ushered in a new era of inclusivity and diversity, leaving an unforgettable impact on the entrepreneurial landscape. In this feature we are showcasing the achievements of five exceptional women entrepreneurs who with their visionary leadership, innovative startups, and relentless pursuit of excellence have left an indelible mark across various industries, shaping the future of entrepreneurship in India and inspiring a new era of transformation and progress. These women embody the spirit of determination, resilience, and innovation, inspiring generations to break through stereotypes and drive meaningful change.

    Nykaa CEO & founder Fallguni Nayar

    Falguni Nayar, the founder, and CEO of Nykaa, has revolutionized the beauty and wellness industry in India. Her startup, Nykaa, is an e-commerce platform that offers an extensive range of beauty products and services. Nayar’s vision and entrepreneurial acumen have created a one-stop destination for customers seeking quality beauty products. With a strong online presence and offline retail stores, Nykaa has become a leading brand in the Indian beauty market, empowering customers to explore and enhance their beauty and wellness journeys.

    MamaEarth co-founder Ghazal Alagh

    Mamaearth co-founder Ghazal Alagh is an advocate for eco-friendly living. Mamaearth offers a range of toxin-free and sustainable personal care products for the entire family. Alagh’s commitment to sustainability has garnered Mamaearth a loyal customer base. Her startup’s rapid growth and success reflect the growing importance of conscious consumption and ethical choices in the consumer goods industry. Under Alagh’s leadership, Mamaearth has expanded its product offerings to include a diverse range of eco-friendly alternatives that resonate with environmentally conscious consumers. By leveraging natural and organic ingredients, the brand prioritizes both the well-being of its customers and the planet.

    QuoDeck CEO & co-founder Kamalika Bhattacharya

    Kamalika Bhattacharya is the CEO, and co-founder of QuoDeck, a B2B SaaS Digital Engagement and Enablement Platform. Her startup, QuoDeck, offers a comprehensive digital training and engagement platform that empowers organizations to create interactive and engaging learning experiences. With a strong passion for utilizing interactivity, games and advanced analytics to achieve meaningful results, she has transformed how organizations interact with and empower their workforce. Having a vast experience of 22 years in working with startups and expertise in securing private equity and venture capital, Kamalika’s journey as an entrepreneur was well-prepared. In 2017, she co-founded QuoDeck, a groundbreaking B2B SaaS platform that has flourished under her guidance.

    Thanks to Kamalika’s unwavering commitment to excellence, QuoDeck now serves esteemed Fortune 500 clients from diverse industries. Recognizing the rising demand for mobile-friendly, bite-sized, and engaging content, she has customized QuoDeck’s offerings to drive higher engagement and faster learning outcomes for on-the-go audiences.

    Hasura COO & co-founder Rajoshi Ghosh

    Hasura COO & co-founder Rajoshi Ghosh is at the forefront of transforming app development in India. Hasura is a leading platform that provides instant GraphQL APIs to developers, enabling them to build, deploy, and scale applications effortlessly. Ghosh’s entrepreneurial vision has made app development more accessible and efficient, empowering developers to create cutting-edge solutions and revolutionize the tech industry. Under Ghosh’s leadership, Hasura has emerged as a trailblazer in the tech space, attracting global recognition and partnership opportunities. Her passion for technology and commitment to developer empowerment have positioned Hasura as a go-to platform for building modern applications.

    Pristyn Care co-founder Dr. Garima Sawhney

    Pristyn Care co-founder Dr. Garima Sawhney, is revolutionising healthcare in India. Pristyn Care is a healthcare startup that offers specialized and advanced medical treatments across multiple surgical specialties. As a uniform startup, Pristyn Care aims to provide seamless healthcare experiences to patients through a tech-driven platform and standardized procedures. Dr. Sawhney’s entrepreneurial journey reflects her commitment to providing high-quality healthcare services with a focus on patient-centric care and advanced medical practices. With Pristyn Care’s rapid growth and recognition, Dr. Sawhney has become a driving force in transforming the healthcare landscape and empowering patients with accessible and reliable healthcare solutions.

    These remarkable women entrepreneurs are leading the way in revolutionizing the tech industry in India.