A third of Nykaa GMV in FY23 has come from new businesses: CEO Falguni Nayar
Nykaa’s gross merchandise value (GMV) in the year ended March 2023 came from its newer businesses, its chairperson, managing director and CEO Falguni Nayar said on Monday at the annual general meeting of parent company FSN E-commerce Ventures.
“Almost one-third of our GMV contribution in FY23 has come from our newer businesses, with all of them being built from scratch over the last four to five years. Our success here comes from diligently finding product-market fit, executing well with speed, and driving only sustainable growth,” Nayar said.
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Offering CollegeCourseWebsiteIIM LucknowIIML Executive Programme in Data ScienceVisitIndian School of BusinessISB Product ManagementVisitNorthwestern UniversityKellogg Post Graduate Certificate in Digital MarketingVisitIndian School of BusinessISB Professional Certificate in Product ManagementVisitThe company clocked a consolidated GMV of Rs 9,743 crore and net revenue of Rs 5,143 crore during FY23. It has launched or acquired a number of brands over the last few years in both beauty and personal care (BPC), and fashion verticals.
As of FY23-end, the company had 12 owned brands in the BPC category and 13 in the fashion segment.
In an investor presentation made during the AGM, Nayar said that Nykaa’s dependence on its mainstay BPC business, in terms of GMV, had reduced over time with the share being 68.2% in FY23 down from 98.3% in FY19. As of last fiscal, the fashion category had 26.4% share in Nykaa’s GMV with the remaining 5.4% contribution coming from other segments such as NykaaMan, eB2B platform Superstore by Nykaa and other verticals.
Nayar also indicated that there was a “large headroom for growth” in the BPC segment
