Nykaa is set to end the financial year on a strong note, forecasting consolidated gross merchandise value (GMV) growth in the high-20% range for the March quarter, driven largely by continued strength in its core beauty business.
The company expects net revenue for the quarter to grow in the late-20% range year-on-year, marking its fastest expansion in recent years. The performance highlights steady consumer demand for beauty products, even as the broader retail environment remains competitive.
Rising demand for premium and skincare products
Nykaa’s beauty segment continues to anchor its growth, supported by rising interest in skincare, cosmetics and personal care. Consumers are increasingly trading up to premium products, while also exploring new categories such as dermo-cosmetics and ingredient-led formulations. This shift is helping drive higher-order values and repeat purchases on the platform.
Digital discovery shapes buying
Digital engagement remains a key factor. Consumers are discovering products through social media, influencer content and Nykaa’s own online ecosystem, making beauty buying more informed and experience-driven. The company’s curated approach, wide product range and strong brand partnerships have further strengthened its position in the segment.
Omnichannel expansion gains pace
Nykaa has also been expanding its offline footprint to complement its online presence. New store openings and enhanced in-store experiences are helping the brand reach a wider audience and build deeper customer connections, especially in non-metro markets.
Steady outlook for FY growth
For the full financial year, Nykaa expects revenue growth at the upper end of the mid-20% range, reflecting sustained demand in its core categories. Overall, the outlook underscores the resilience of India’s beauty market, with Nykaa well-positioned to benefit from continued consumer interest in self-care and personal grooming.
