Nykaa.com has reported gross merchandise value (GMV) of INR 275 crores for the financial year 2016-17, with a net revenue of INR 214 crores.
The beauty portal recorded an increase of 3.6X in GMV compared to the previous financial year.
In its third round of funding that closed in December 2016, Nykaa raised 104.3 crores through institutional and private investors. Nykaa is currently on a GMV run rate of 600 crores.
Nykaa increased its brand portfolio by 56% to stock 700+ brands and more than 80k products. The inventory-led e-commerce platform ensures that all products are genuine, sourced directly from the brands and available for immediate dispatch.
Going Offline Worked. #Omnichannel
Following the overwhelming response to the airport stores in New Delhi and Mumbai, Nykaa expanded its omni-channel positioning to launch brick & mortar Nykaa Luxe stores at Infiniti Mall, Andheri, Mumbai, VR Mall, Bangalore and Khan Market, New Delhi. This expansion will continue with the launch of 8 stores in the current financial year, to grow to a total of 30 stores in 2020.