FSN E-Commerce Ventures Ltd, parent company of beauty and fashion platform Nykaa, said on Sunday that it expects the company and its subsidiaries to register revenue growth of around 22-23 percent year-on-year in the first quarter of fiscal 25. Consolidated GMV (gross merchandise value) growth is expected to be in the mid-20 percent range year-on-year.
Starting this quarter, Nykaa will begin reporting by vertical segments. The Beauty division comprises the online beauty platform Nykaa, Beauty Owned Brands, brick-and-mortar stores, along with its eB2B distribution business “Superstore by Nykaa” and Nykaa Man BPC business. The Fashion division comprises the Nykaa Fashion platform, Fashion Owned Brands, along with its content platforms LBB and Nykaa Man Lifestyle.
According to its first quarter update released today, the company's beauty division is expected to post revenue growth of approximately 22-23% year-on-year in the first quarter, roughly in line with consolidated entity revenue growth. GMV growth for the division is expected to be even higher, in the high 20% range year-on-year. This is despite relatively slower growth in its brick-and-mortar retail business, impacted by elections and the heatwave across North India, the company added.
Furthermore, despite the sluggish demand environment in the fashion industry,
Earlier in May, Nika reported fourth-quarter profit of INR 907 crore, up 297.8% from INR 228 crore in the same period last year. Operating revenue was INR 1667.98 crore, up 28.1% from INR 1301.72 crore in the same period last year. Nika reported consolidated GMV of INR 3217.20 crore for the quarter, up 32% year-over-year, with all businesses continuing to perform well.
