Nykaa Plans to Triple its Offline Presence Across 100 Cities: Falguni Nayar

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Nykaa Plans to Triple its Offline Presence Across 100 Cities: Falguni Nayar
Credit: © Reuters.

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.

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  • Pratik Ghadge @Pratik Ghadge
    it's seams a bright future for nykaa
    Like 0
  • Pratik Ghadge @Pratik Ghadge
    it's seams a bright future for nykaa
    Like 1

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