By Malvika Gurung
Investing.com -- The online cosmetic brand Nykaa (BO: FSNE ) will increase its offline presence by building over 200 retail outlets across 100 cities in the country, informed the company’s founder Falguni Nayar.
In an interview for Reuters Next on Wednesday, Nayar informed of the company’s plans to expand from its current offline presence of 84 retail stores across 40 cities in the country to 300, over 100 cities across the country. This will be an addition of more than thrice the company’s present outlet numbers.
Due to the Covid-19 pandemic, the company had to slow down its store expansion plans for about a year. However, due to the conditions improving now, the online makeup and fashion major is all set to expand its brick-and-mortar stores in the country.
The beauty, personal care and fashion market in the country commands a $70 billion valuation of the larger set of the retail market at $900 billion value.
Nykaa’s parent company FSN E-Commerce Ventures Limited had made a stellar debut on the Indian exchanges last month with a valuation of $14 billion.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.