19 Jun 2024
Nykaa, the leading Indian beauty and fashion retailer, feels that it needs to increase its retail presence to get more global brands in India and had opened a new luxury flagship store in Mumbai in March. It plans to have more such stores in the coming months.
The new luxe store comes at a time when increasing number of global brands are looking towards India as a growth opportunity. However, there are very few retail stores in India suitable for luxury brands and that pushed Nykaa to increase its physical presence in the country.
The new store has a host of luxury brands including, Lancôme, MAC Cosmetics, Benefit Cosmetics, Charlotte Tilbury, The Ordinary, Urban Decay, YSL Beaute, and Dr. Barbara Sturm, amongst others. The store also has experiential zones along with in-store services such as skin analysis and branded experiences like Dyson Hair Styling and Aveda Dry Bar. The store plans to have many events for better customer engagement.
The aim of having more physical stores is not only to offer more products to consumers but also to educate them to enhance meaningful consumption.
