Fashion and beauty retailer Nykaa reported 28 per cent rise in revenue in the fourth quarter of FY24 and revenue that rose neatly 4 times with strong growth across all its segments.
The company FSN E-Commerce Ventures that owns the brand, reported net profit of Rs 9.1 crore on revenue of Rs 1668 crore.
For the full year FY24, net profit rose 90 per cent to Rs 39.7 crore while revenue rose 24 per cent to Rs 6385.6 crore.
EBITDA margin
Gross merchandise value (GMV), a key metric for retailers, rose 32 per cent on year to Rs 3217.2 crore in the quarter and was up 28 per cent at Rs 12,446 crore in FY24. EBITDA margin in Q4 rose 16 bps to 5.6 per cent and was 44 bps higher at 5.4 per cent in FY24.
All segments – beauty, fashion, and superstores – showed strong growth ranging from 29 to 59 per cent in GMV. Its largest vertical BPC contributed 67 per cent to the total GMV.
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The beauty segment’s GMV crossed $1 billion during the year with customer base of 12 million. The growth was attributed to acceleration in customer acquisition, growth in core categories such as skin and hair care, faster growth than platform in emerging categories of fragrances, bath, and body care as well as healthy performance by its own brands.
42 outlets
Nykaa added 42 outlets during the year, ending it with187 stores spread over a total area of 1.7 lakh square feet and expanding its presence to eight more cities.
In March it GCC Beauty, under the brand Nysaa, that would provide distribution, logistics and retail support to international brands. GCC Beauty is estimated to be a $30 billion market and founder Falguni Nayar said that they expected this to be a significant growth driver for them in the future.
This would be a one-stop-shop for global brands supporting them with market entry strategies, registration, logistics, warehousing, brand building and distribution. Some of these brands would also be given access to Nykaa’s superstores. Around 39 international broads have already been onboarded for this.