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  • Janhvi Kapoor is the new brand ambassador of Nykaa Fashion

    Janhvi Kapoor is the new brand ambassador of Nykaa Fashion

    Mumbai: Nykaa Fashion has signed Janhvi Kapoor as its brand ambassador. While Kapoor has already been associated with the brand since 2018, she’ll now serve as the brand ambassador for Nykaa Fashion. The brand has also launched a 20-second ad film featuring the actress.

    In an endeavour to have Janhvi’s influence and popularity now transcend to the world of fashion, the brand has deepened its relationship with the artist, who will be seen in fresh new avatars as she expresses her unbridled love for all things fashion. Nykaa Beauty and Nykaa Fashion meticulously cater to the needs of a discerning customer who’s looking for highly curated offerings and appreciates having elevated options to choose from.

    In the earnest demeanour of someone who spends plenty of time on the two apps of Nykaa, Janhvi’s excitement over spotting a few of her favourite products is palpable in this campaign film, “One Nykaa Two Apps: Two Apps, Double The Fun.” Celebrating fashion on fleek, the film opens with Kapoor instantly spotting her favourite beauty and fashion picks and declaring that true fans never just use one app because with Nykaa Beauty and Nykaa Fashion, the curations, the offerings, the fun, and the love multiplies.

    Nykaa Fashion CEO and Nykaa co-founder Adwaita Nayar said, “Janhvi is a true, modern style icon who has already established her flair in the beauty game with Nykaa. She brings great relatability and influence to the table, and we cannot think of anyone more apt to represent the spirit of our fashion offering. I’m excited to further strengthen our association with Janhvi and together build brand love for Nykaa Fashion.”

    On her association with the brand, Janhvi Kapoor said, “My relationship with Nykaa is truly special, not just professionally but also personally. As one of their millions of consumers, I have always felt empowered by the choices offered by the brand. I am a huge fashion enthusiast and am super excited to partner with Nykaa Fashion to bring its elegantly curated offerings across homegrown and international brands under the spotlight for you to discover and enjoy!”

  • Richa Gupta joins WOW Skin Science as VP of innovation & strategic projects

    Richa Gupta joins WOW Skin Science as VP of innovation & strategic projects

    Mumbai: WOW Skin Science/WOW Life Science, a D2C beauty and wellness brand, has appointed Richa Gupta as vice president of innovation and strategic projects for its India as well as international business.

    Richa will be in charge of new product launches, new brand development, as well as other strategic projects across beauty, health, and other categories.

    Richa was previously associated with Amazon India, where she led premium beauty, colour cosmetics, and content marketing verticals. Over the course of her 16-year career, she has worked with many consumers’ favourite brands such as Flipkart, Nykaa, Lifestyle, and Baccarose, leading a variety of charters across retail, category management, supply chain, and brand engagement.

    Speaking of her appointment, Gupta stated, “I am thrilled to be a part of WOW Skin Science. The brand’s current position is the result of its deep insights into markets, trends, and consumers—factors that are important ingredients of success—followed by meticulous strategy execution. I am looking forward to working with this well-established team and using my knowledge and experience to further build WOW’s position as the go-to brand for beauty, personal care, and wellness.”

    WOW Skin Science co-founder Manish Chowdhary said, “We are delighted to welcome Richa to the WOW family. Richa’s vast experience and strategic vision will prove instrumental in the next phase of WOW Skin Science’s growth story.”

    “Richa joins us at a very exciting phase of our journey as we transform into a house of loved brands. Her extensive experience in beauty as well as her strong ability to think big and deliver results will be a critical asset for the organisation as she joins our leadership team,” added WOW Skin Science chief operating officer Mrunmay Mehta.

  • Nykaa partners with Apparel Group to enter Gulf markets; sees it as a multi-year growth opportunity

    Nykaa partners with Apparel Group to enter Gulf markets; sees it as a multi-year growth opportunity

    Mumbai: Nykaa, the Indian fashion and cosmetics retailer, has tied up with the Middle East based fashion and lifestyle retail giant, Apparel Group. With this strategic alliance, the former aims to utilise the latter’s robust retail infrastructure network and deep market relationships to recreate its beauty retail platform and build distinctive Gulf Cooperation Council (GCC) focused beauty offerings in UAE, Kingdom of Saudi Arabia (KSA), Qatar, Oman, Kuwait and Bahrain.

    The joint venture will create an omnichannel, multi-retail brand for the Middle East with Nykaa holding a 55 per cent stake in the new entity and the remaining 45 per cent will be owned by Apparel Group.

    As per reports, Nykaa CEO Falguni Nayyar believes that the per capita consumption of beauty is very high in the GCC region, and the company views it as a multi-year growth opportunity.

    As per Elara Capital senior vice president – research analyst of media, consumer discretionary and internet Karan Taurani’s margins in the GCC market is far superior as compared to India (around 48-50 per cent gross margin). Nykaa’s gross merchandise value (GMV) contribution from private labels currently is 11.2 per cent, which can potentially lead to 10-15 per cent higher sales volume for this segment in the near term due to new market expansion, he points out.

    “As per our assessment, this joint venture will thereby have a positive impact of one-two per cent on growth rates for the overall beauty and personal care (BPC) segment; it may be margin dilutive initially due to investment in the overseas market (creating brand awareness) but will impact earnings positively, once they achieve scale,” says Taurani.

    Elara Capital has estimated 23.7 per cent revenue compound annual growth (CAGR) for the Nykaa BPC segment in the upcoming years, he adds.

    For the record, Nykaa has 112 retail stores in India (as of 30 June), catering to approximately 28,000 pin codes and offering over 4,500 brands across platforms. Apparel Group is a global fashion and lifestyle retail conglomerate headquartered in the United Arab Emirates (UAE). It is home to over 75 lifestyle and beauty brands with over 2,000 stores in 14 countries.

  • Nykaa ropes in Unilever’s Vishal Gupta to lead its consumer beauty brands

    Nykaa ropes in Unilever’s Vishal Gupta to lead its consumer beauty brands

    Mumbai: FSN E-Commerce Ventures, NYKAA has announced the appointment of Vishal Gupta as executive vice president for its consumer beauty brands. With nearly three decades of experience in the FMCG space, Gupta joins Nykaa after his tenure at Unilever Global, where he led large-scale, award-winning campaigns and teams.

    In his latest role at Unilever Russia, Gupta helmed the beauty and personal care business, comprising a large portfolio of international and local brands including Lux, Surf Excel, Wheel, and Sunlight, to name a few.

    An IIT Delhi and IIM Bengaluru alumni, Gupta’s Unilever stint of over 25 years included successfully turning around many businesses and brands in India, Indonesia, Southeast Asia, and Russia. In addition to being a seasoned leader and brand maverick, Gupta specialises in implementing agility in organisational operations. The company said in a statement that with Gupta’s philosophy of customer centricity that resonates with Nykaa, Gupta will steward Nykaa’s transformative growth across its portfolio of owned consumer brands.

    Nykaa founder and CEO Falguni Nayar said, “Nykaa’s own beauty brands have been built on the principles of quality, authenticity, and inclusivity. This approach to brand building is what has led us to become much loved by the Indian consumer. Vishal now has the responsibility of carrying on its rich legacy and taking brand Nykaa to even greater heights and into more consumers’ hearts. With his wealth of industry experience and passion for the beauty space, we are excited to see what Vishal will deliver.”

    Vishal Gupta said, “I am excited to join Nykaa to help build its dynamic portfolio of consumer beauty brands that have become iconic in the Indian beauty ecosystem. Inspired by Falguni’s vision, I look forward to scaling the existing brands and creating new memorable ones that will further help serve the unmet beauty needs of the consumer.”

  • Nykaa gets board approval to buy digital lifestyle platform Little Black Book

    Nykaa gets board approval to buy digital lifestyle platform Little Black Book

    Mumbai: Nykaa has confirmed its board’s approval for the acquisition of Iluminar Media’s Little Black Book (LBB), a millennial-focused lifestyle discovery platform. This is in line with Nykaa’s fundamental, content-first strategy for connecting with its devoted customer base.

    LBB is a popular content hub thanks to its sizable, discerning user base, content creation ability, curation mindset, and connections to up-and-coming brands. Nykaa believes that LBB’s emphasis on the fashion, home, and beauty categories will complement Nykaa’s strong points.  

    Nykaa spokesperson Nihir Parikh said, “At Nykaa, we are committed to offering the best to our consumers and making their shopping experience delightful. We are excited about the strong synergies we share with LBB, much like Nykaa, they have sharply focused on driving discovery and spotlighting promising homegrown brands across their channels since day one.”

    “We welcome their like-minded leadership into the Nykaa family and look forward to helping them scale, as together we better serve our audience base,” added Parikh.  

    According to Nykaa, its market leadership in beauty and lifestyle is a result of its core strengths, which include a content-first approach, curated offerings, and a discovery-led shopping experience. LBB’s strengths in these areas will complement Nykaa and Nykaa Fashion’s vision of constantly enriching their customers’ shopping experiences.  

    LBB co-founder and CEO Suchita Salwan said, “Through this partnership with Nykaa, we’re excited to scale to even greater heights. Together, we want to drive value to Nykaa and LBB’s shared goals to build discovery for India’s emerging brands through content, community, and a discovery-first approach.”  

    She further added, “LBB’s robust content creation capabilities and creator network will be leveraged within Nykaa’s platforms to drive consumer engagement and retention, further scaling reach and engagement for our brand partners.”

    Suchita Salwan and Dhruv Mathur co-founded LBB (Little Black Book) in 2015, and it has grown from a Tumblr blog to a popular online marketplace.  LBB has established a brand and an audience among India’s urban millennials, reaching over 70 million users through various channels. Their emphasis on audience engagement through content and discovery has made them a brand beloved by both users and brand partners.

  • Street Wear Cosmetics relaunches & expands its product portfolio

    Street Wear Cosmetics relaunches & expands its product portfolio

    Mumbai: Street Wear announced that it is relaunching with a focus on high-quality products backed by the brand idea #NodoubtNoLimits. The brand aims to give every consumer the confidence to celebrate their individual beauty & values, unlike other brands which believe in celebrating celebrities. 

    To amplify the relaunch, Street Wear will engage in an influencer campaign with the theme #Lipsdontshy and will be working with influencers, and bloggers across social media platforms, where they can express their creativity through lip art. Furthermore, a powerful brand video will also be launched to bring the brand essence alive by reinstating the significance of expressing and embracing one’s uniqueness at home, work, or on the streets.

    The new range of products spans multiple make-up categories, using unique formulations extremely suitable for the Indian skin type and in sync with the aspirations of the highly aware new-age consumers who embrace new ideas. Its all new long wear stay-on foundation, which has an oil-free formula, is sweat-free and long lasting, will allow consumers to face the world confidently.

    The products will be available on all major e-commerce platforms and retail stores across India. Streetwear is also entering a unique distribution partnership with Nykaa D.

    Commenting on the relaunch, Umesh Modi Group chairman Umesh Modi said, “We continue to invest in the Indian beauty market with the best of global brands. With the new look Street Wear, we offer the modern consumers with not only world class products but also a brand they connect with – the one which makes them break the stereotypes on beauty, gender, skin colour, roles & behaviour. Street Wear will continue innovating and launching many new colour cosmetics products in the coming months.”

  • Q4 results: Nykaa profit falls 49% YoY to Rs 8.56 crore

    Q4 results: Nykaa profit falls 49% YoY to Rs 8.56 crore

    Mumbai: Nykaa recently announced its financial results for the quarter and financial year ended 31 March 2022. The financial report highlights that FSN E-commerce Ventures, Nykaa’s parent company, has experienced overall strong performance in FY2022 amidst various macro-economic challenges such as rising inflation, reduction in discretionary spends by consumers, and uncertainty around Covid-19.

    Nykaa reported a 49 per cent decline in consolidated net profit at Rs 8.56 crore in the fourth quarter from Rs 16.88 crore a year earlier. The company had posted a net profit of Rs 16.8 crore in the year-ago period. Its revenues from operations, however, rose 31 per cent to Rs 973.32 crore in the quarter as against Rs 740.52 crore in the same quarter last fiscal.

    Its Gross Merchandise Value (GMV) grew 45 per cent year on year to Rs 179.79 crore in March quarter, while it increased 71 per cent to Rs 693.32 crore in FY22. Revenue from operations grew 55 per cent year on year to Rs 377.39 crore and grew 31 per cent to Rs 973.3 crore in the quarter ended 31 March 2022.

    Profit after tax stood at Rs 41.3 crore in FY2022, a decline of 33 per cent from a year-ago period.

    Nykaa chairperson MD and CEO Falguni Nayar said. “The year has witnessed a challenging macroeconomic environment, pronounced for discretionary categories like beauty, personal care and fashion. Despite market slowdown, our unique growth story continues, showing the resilience of our business model and long term sustainability by balancing strong revenue growth, responsible unit economics and profitability.”

    “We acquired over six million new customers across beauty and fashion, and witnessed superior customer retention, with improved metrics across the funnel – from visits to conversions. We have expanded our addressable market through new growth engines – speciality retail stores, Nykaa Man, and SuperStore. These businesses, along with our consumer brands portfolio have witnessed increasing momentum through the year,” she added.

    “Our consumer brands have recently seen expansion into wellness, activewear and personal care through purpose-driven brand acquisitions. We deeply value our shareholders’ faith in us and hold their capital in highest regard. Our investments are always made in getting the building blocks right – such as tech platform, customer experience, assortment – and growing our new and early-stage businesses in a sustainable manner with a long term focus,” concluded Falguni.

     

  • Falguni Nayar honoured with the ‘EY Entrepreneur Of The Year’ Award 2021

    Falguni Nayar honoured with the ‘EY Entrepreneur Of The Year’ Award 2021

    Mumbai: Beauty e-commerce platform, Nykaa Founder & CEO Falguni Nayar was named the ‘EY Entrepreneur of the Year 2021’ at a ceremony held on Tuesday evening.

    Nayyar will now represent India at the ‘EY World Entrepreneur of the Year Award (WEOY)’ on 9 June 2022.

    An investment banker turned entrepreneur, Falguni Nayar disrupted a brick-and-mortar industry by taking a digital route to sell beauty products in 2012.

    Her start-up, Nykaa, is one of the most profitable start-ups in the country with a strong omni-channel presence. The company recently raised fresh capital for expansion through a blockbuster Initial Public Offer (IPO). Falguni was the recipient of the ‘EY Entrepreneur of The Year Award’ in the start-up category in 2019.

    Larsen & Toubro (L&T) group chairman A M Naik was felicitated with the Lifetime Achievement Award. Having joined L&T in 1965 Naik grew within the ranks to become the chairman and managing director in 2003. He has been instrumental in transforming the engineering services company into one of India’s foremost conglomerates spanning engineering and construction, energy, finance and IT.

    Awards were also announced for nine other categories with the winners representing both mature industries and young entrepreneurs from startups including unicorns. The winners were selected by an eminent nine-member independent jury panel led by ICICI Bank’s former chairman KV Kamath.

    Minister of Labour & Employment and Environment, Forest & Climate Change, Bhupender Yadav was the chief guest of the event. The Minister of State for Finance, Dr Bhagwat K Karad was the guest of honour at the ceremony.

    In his address, the chief minister said, “India is marching towards an inclusive and sustainable economy which firmly believes in enabling and enhancing the efficiency and efficacy of our entrepreneurs. It is great to see that this year, EOY Awards has 21 finalists with combined revenues of Rs 1.87 trillion, who collectively employ more than 2,60,000 people; this is a testimony of the nation’s entrepreneurial talent.”

    EY Entrepreneur Of The Year™ 2021 Winners :

    -EY Entrepreneur of the Year™ 2021

    Falguni Nayar, Founder and CEO, FSN E-commerce (Nykaa)

    -Lifetime Achievement

    A. M. Naik, Group Chairman, Larsen & Toubro

    -Category Winners

    Start-up: Vidit Aatrey, Co-founder & CEO and Sanjeev Barnwal, Co-founder & CTO, Fashnear Technology (Meesho)

    Business Transformation: Abhay Soi, Chairman and Managing Director, Max Healthcare

    Manufacturing: Sunil Vachani, Founder and Executive Chairman, Dixon Technologies  

    Services: Sahil Barua, Co-founder and CEO, Delhivery

    Consumer Products & Retail: Shiv Kishan Agarwal, Chairman; and Manohar Lal Agarwal, Chairman and Managing Director respectively, Haldiram Group

    Life Sciences & Healthcare: Dr Satyanarayana Chava, Founder and CEO, Laurus Labs

    Financial Services: Harshil Mathur, Co-founder and CEO; and Shashank Kumar, Co-founder and CTO, Razorpay

    Technology, Media and Telecom: Girish Mathrubootham, Co-founder and CEO, Freshworks

    Entrepreneurial CEO: Vivek Vikram Singh, Managing Director and Group CEO, Sona Comstar

    EY India chairman and CEO Rajiv Memani said, “The backdrop of the awards this year is one of great resilience of India’s entrepreneurial ingenuity and the country’s growth prospects. Our EY Entrepreneur of the Year 2021 Winners should be celebrated for their success against all odds, especially in today’s business environment, which is more dynamic than ever. Many of the winners are very young and have tremendously scaled their enterprises through innovation, adoption of new-age technologies, and value creation in a very short span of time. I congratulate each one of them for paving the way for other aspiring entrepreneurs and achieving excellence in their respective sectors.”

    ICICI Bank former chairman and jury chair of EOY Awards 2021 KV Kamath said, “Each of the EOY 2021 Winners has an outstanding story of entrepreneurial excellence. They have pivoted and grown at a tremendous pace, adopted technology, and built very competitive businesses. On behalf of the Jury, I congratulate all the 2021 Finalists and Winners who are making a commendable impact in their respective ecosystems and truly represent the emergence of a new India.”

    Other jury members of the nine-member independent panel included Dr Kiran Mazumdar-Shaw, Chairperson, Biocon; Vibha Padalkar, Managing Director and Chief Executive Officer, HDFC Life; Neeraj Bharadwaj, Managing Director, The Carlyle Group; Amit Dixit, Head Asia Private Equity, Blackstone; Rajnish Kumar, Former Chairman, State Bank of India; Harsh C. Mariwala, Chairman, Marico; Sanjiv Mehta, CEO and Managing Director, Hindustan Unilever; and Gopal Srinivasan, Founder, Chairman and Managing Director, TVS Capital Funds. 

  • Falguni Nayar: The billionaire founder of Nykaa who dared to dream at 50

    Falguni Nayar: The billionaire founder of Nykaa who dared to dream at 50

    Mumbai: An IPO banker for close to two decades, Falguni Nayar the billionaire founder of beauty startup Nykaa had led many companies to the stock market. As someone who always nurtured the ambition of becoming an entrepreneur, steering her own company to stellar IPO was the most fulfilling experience.

    Nayar is today the richest self-made woman billionaire in India. She is among the country’s 20 richest people. But that’s not all. What makes the stock market debut of her business unique is the fact that it is the only profitable unicorn going public and an exceptional new-age firm where its promoter group still owns more than half the company. The Sanjay Nayar Family Trust which includes Nayar, her husband and their two twin children holds more than 53 per cent in FSN E-Commerce Ventures, Nykaa’s parent company.

    FSN E-Commerce Ventures launched its IPO on 28 October to raise as much as Rs 5,352 crore by offering shares in a price band of Rs 1,085-1,125 apiece. The share price nearly doubled over the IPO range on the listing, ascribing India’s biggest cosmetics etailer a market cap of over Rs one lakh crore and its founder Falguni Nayar a net worth of nearly $7.5 billion. On Wednesday, Nykaa was listed at nearly 80 per cent premium and ended the day 96.15 per cent higher than its issue price at Rs 2,206.70—that translates to a market capitalisation of Rs 1,04,360.85 crore on day one, according to the Economic Times.

    An alumnus of Indian Institute of Management, Ahmedabad, and former managing director of Kotak Mahindra Capital Company, Falguni Nayar founded Nykaa in April of 2012 when she was nearing 50. With her family and professional responsibilities balanced, and having gained two decades of experience guiding businesses to success, she felt it was the perfect time to take the entrepreneurial plunge. Within less than a decade her brainchild Nykaa became one of the most successful e-tailers in the country and among the few profitable start-ups in India. It entered the unicorn club in March 2020.

    It has been a journey of dreams and determination, but unlike many others in the Indian start-up ecosystem it was guided by a larger vision and practical business outcomes. In an interview with Moneycontrol.com Nayar revealed that the most valuable learning she imbibed from Uday Kotak was the importance of corporate governance and a financially sustainable approach to business. In a discount and fancy-metrics-led e-commerce market, she decided to run Nykaa with a focus on quality, product benefits, and variety rather than on heavy discounting. Her vision for the company is to see it evolve as a ‘house of brands,’ national and international.

    Since its launch, Nykaa expanded its product categories by introducing online platforms Nykaa Fashion and Nykaa Man. Delivering a comprehensive Omnichannel e-commerce experience, it offers 4,078 brands and over 3.1 million product SKUs through its 80-odd brick-and-mortar stores, website, and mobile applications. Nykaa has launched its private labels Nykaa Cosmetics, Nykaa Naturals and K-Beauty (with Indian actor Katrina Kaif as celebrity brand endorser). The company entered luxury offerings in 2016. Recently, it acquired Dot & Key Skin Care brand to address the gaps in the market. Nykaa also launched a global store thus ensuring the availability of the largest variety of luxury brands on its platform.

    The beauty e-commerce business is run by Nayar’s son Anchit – a Columbia University Graduate. Her daughter Adwaita has an MBA from Harvard Business School. She operates the fashion vertical. She is married to KKR India CEO Sanjay Nayar.

  • Nykaa acquires homegrown skincare brand Dot & Key

    Nykaa acquires homegrown skincare brand Dot & Key

    Mumbai: Beauty and fashion e-commerce platform, Nykaa has announced the acquisition of the Indian skincare brand Dot & Key. This is the first D2C (direct to consumer) beauty brand acquired by Nykaa.

    “We are excited to bring Dot & Key into the Nykaa family in time to serve the demand in high-quality skincare by Indian consumers,” said Nykaa founder and CEO Falguni Nayar. “Dot & Key’s product range presents an exciting opportunity for Nykaa as it allows us to extend the brand’s reach to a larger landscape of consumers and enter the nutraceutical space as well. Dot & Key is a consumer-centric brand with a growing base of consumers and a range of skincare solutions.”

    Founded by Kolkata-based Suyash Saraf and Anisha Saraf, Dot & Key is a new-age brand focused on providing solutions to skincare concerns. It offers premium skincare products such as serums, face masks, toners, and cleansers. The brand has recently expanded into nutraceuticals under the brand ‘IKWI’.

    “We have created a niche brand with Dot & Key, focused on making products based on consumer needs. Our passion to differentiate ourselves has inspired us to take an unconventional angle to skincare. Nykaa’s position in the beauty landscape in India and its resources will allow Dot & Key to grow further as a brand and scale to the next level,” said Dot & Key co-founder Suyash Saraf.

    Ernst & Young LLP was the exclusive advisor to Dot & Key on the deal.