- FSN E-Commerce Ventures expects 30% GMV and NSV growth in Q1 June quarter
- Beauty vertical to see late-20% NSV and net revenue growth driven by customer gains
- Nykaa's omnichannel beauty stores expand with strong like-for-like and network growth
FSN E-Commerce Ventures Ltd., the parent of Nykaa, expects consolidated gross merchandise value (GMV) and net sales value (NSV) growth in the early-30% range for the June quarter, with consolidated revenue growth likely to accelerate to nearly 30%, driven by sustained momentum across its beauty and fashion businesses.
The company said its beauty vertical is expected to deliver NSV and net revenue growth in the late-20% range during the quarter, with net revenue growth likely to trail NSV marginally. It attributed the performance to robust customer acquisition, strong omnichannel execution and healthy growth in marketing income.
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Nykaa said its omnichannel beauty business continued to expand, while retail performance was supported by both like-for-like growth and continued expansion of its store network.
The company also highlighted the strong performance of its owned brands portfolio.
"House of Nykaa continues to demonstrate rapid growth, with brands such as Kay Beauty, Nykaa Cosmetics and Dot & Key delivering consistent success," the company said in its quarterly business update.
The fashion business is expected to remain the fastest-growing segment, with NSV growth projected in the mid-50% range. Nykaa said the business benefited from lower operational leakages, an expanding brand assortment on its core platform and continued investments in customer acquisition.
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"All major fashion categories delivered strong performance during the quarter, while our partnership with Nike has shown encouraging early results," the company said.
The company added that ongoing marketing investments continued to support new customer acquisition across both beauty and fashion, positioning the business for another quarter of healthy growth.
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