Nykaa, a beauty products e-commerce company, is diversifying into men’s grooming. It is also tapping the demand for beauty products in the fashion industry and amid professionals such as make-up artistes.

As it diversifies its online presence, Nykaa is also expanding its physical presence. “We started our offline presence 18 months ago. We have 41 outlets across 18 cities in the country. We plan to expand the network to 180 outlets in five years,” said Anchit Nayar, founder and CEO of Nykaa.com.

“We receive 45 million visits on our app. We have 14 million unique visitors and 4 million active users. This helps us in locating the places from where enquiries are coming,” he said. Nayar was here for the launch the Nykaa Beauty Bar store at L&T Mall. Hyderabad will have two more stores, he added.

The firm will open a window on its digital platform to exclusively cater to the demand for beauty products from men.

Bulk purchases

While Nykaa Fashion was launched recently, Nykaa Man will be opened shortly. The Nykaa Pro programme, targeted at makeup artistes and beauticians who require products in bulk, will also be rolled out shortly.

The seven-year-old firm registered a turnover of ₹1,229 crore in FY19, from ₹578 crore in the previous year. It expects a quarter of its turnover to come from the men’s grooming business shortly. E-commerce continues to be the major contributor with 85-90 per cent of revenues coming from it.

Each offline store requires a capital expenditure of ₹60-80 lakh. There are no immediate plans to raise funds to support the growth plans, said Nayar. “We have achieved break-even. We can fund out growth plans by ourselves,” he said.