Shares of FSN E-Commerce Ventures Ltd., the parent company of Nykaa, are buzzing in trade on Wednesday. The stock is trading at Rs 278.9, accounting for gains of around 2.5% compared to Tuesday's closing price.
This comes on the back of Nykaa's partnership with OpenAI, the maker of ChatGPT. The two companied had announced a deal on Tuesday, in order to transform how consumers discover and shop for beauty and fashion products through artificial intelligence.
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As part of the deal, Nykaa has listed its beauty and fashion experiences as connected apps on the ChatGPT platform, enabling users to access the company's product catalogue, recommendations and shopping expertise directly within ChatGPT conversations.
Under the arrangement, Nykaa Beauty and Nykaa Fashion will be available as connected apps inside ChatGPT. Users seeking skincare recommendations, fashion advice or fragrance suggestions can receive guidance and product discovery through ChatGPT, with Nykaa serving as the commerce destination.
The company said it will also work with OpenAI to help shape the future of lifestyle shopping within ChatGPT's emerging agentic commerce framework. The initiative is expected to create a new AI-native distribution channel for Nykaa's own brands as well as the hundreds of partner brands available on its platform.
ALSO READ: Nykaa Partners With OpenAI To Build AI-Native Beauty And Fashion Commerce
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