Nykaa

Nykaa, operated by FSN E-Commerce Ventures Ltd, is an Indian e-commerce company headquartered in Mumbai, Maharashtra. Founded in 2012 by Falguni Nayar, it specializes in beauty, wellness, and fashion products, offering over 2,000 brands and 200,000 products across its online platforms and more than 100 physical stores. Nykaa transitioned from an online-only model to an omnichannel retailer in 2015, integrating physical retail with its digital presence. The company is known for its curated product offerings, technology-driven personalization, and content platforms like Nykaa TV and Beauty Book. In 2020, it became the first Indian unicorn startup led by a woman. Nykaa’s initial public offering (IPO) in 2021 valued the company at nearly US$13 billion, cementing its position as a leading player in India’s beauty and fashion e-commerce market.

FSN E-Commerce Ventures Ltd

Company type	Public
Traded as	BSE: 543384 NSE: NYKAA
Industry	E-commerce, Retail
Founded	April 2012 (2012-04)
Founder	Falguni Nayar
Headquarters	Mumbai, Maharashtra, India
Key people	Falguni Nayar (Founder, Executive Chairperson & CEO) Anchit Nayar (CEO, Beauty E-Commerce) Adwaita Nayar (CEO, Nykaa Fashion) P Ganesh (CFO) Vishal Gupta (CEO, Superstore)
Products	Beauty, wellness, and fashion products
Services	Online retail, physical stores, content platforms
Revenue	₹5,143.8 crore (FY 2023)
Net income	₹21 crore (FY 2023)
Number of employees	7,027 (2025)
Website	www.nykaa.com

Founders & Leadership

Nykaa was founded by Falguni Nayar, who serves as the Executive Chairperson, Managing Director, and CEO. Nayar, a graduate of IIM Ahmedabad with a post-graduate diploma in management, has nearly three decades of experience in investment banking, including 18 years at Kotak Mahindra Capital Company, where she was a managing director. She founded Nykaa at age 49, inspired by the success of Sephora and the untapped potential of India’s online beauty market. Nayar has received numerous accolades, including the EY Entrepreneur of the Year 2019 and Businesswoman of the Year by The Economic Times in 2019.

Other key leaders include:

• Anchit Nayar, CEO of Beauty E-Commerce, holds a bachelor’s degree from Columbia University and has over 10 years of experience in e-commerce and banking, previously serving as Vice President at Morgan Stanley.
• Adwaita Nayar, CEO of Nykaa Fashion, is an Executive Director and co-founder, recognized as a 2024 Young Global Leader by the World Economic Forum.
• P Ganesh, CFO, is a qualified Chartered Accountant and Company Secretary with 27 years of experience in financial reporting and mergers.
• Vishal Gupta, CEO of Superstore, holds degrees from IIT Delhi and IIM Bangalore, with 27 years at Unilever.

Timeline

Year	Milestone
2012	Nykaa founded by Falguni Nayar as an e-commerce platform for beauty and wellness products.
2013	Website launched commercially around Diwali.
2015	Expanded to omnichannel model with physical stores.
2018	Launched Nykaa Fashion and Nykaa PRO.
2019	Partnered with Katrina Kaif to launch Kay Beauty.
2020	Became India’s first woman-led unicorn startup; launched Nykaa Man.
2021	IPO raised ₹5,352 crore, listed on BSE and NSE.
2022	Acquired 18.51% stake in Earth Rhythm and 100% of Little Black Book (LBB).
2023	Reported revenue of ₹5,143.8 crore and net profit of ₹21 crore.
2024	Acquired majority stake in Earth Rhythm; expanded to 1900+ brands.

Funding

Date	Round	Amount	Investors
2015	Series B	₹20 crore	TVS Shriram Growth Fund
2016	Series C	₹67 crore	TVS Shriram Growth Fund
2018	Series D	₹165 crore	Existing investors
April 2020	Private Equity	US$13 million	Steadview Capital
May 2020	Private Equity	₹67 crore	Steadview Capital
November 2020	Secondary Sale	Undisclosed	Fidelity Management & Research Company
October 2021	Anchor Investment	₹2,396 crore	Anchor investors
October 2021	IPO	₹5,352 crore	Public investors

Business Model

Nykaa operates an inventory-based e-commerce model for its beauty and wellness segment, sourcing products directly from manufacturers to ensure authenticity. Its fashion segment, Nykaa Fashion, functions as a curated marketplace. The company generates revenue through:

• Product Sales: Primary revenue from selling beauty, wellness, and fashion products, including in-house brands like Nykaa Cosmetics and Kay Beauty.
• Marketplace Commissions: Earned from third-party sellers on Nykaa Fashion.
• Advertising: Banner ads and sponsored content on its platforms.
• Miscellaneous Income: Includes discounts and promotional campaigns.

Nykaa targets diverse customer segments, including women, men, and children, across beauty, wellness, and fashion categories. It leverages artificial intelligence and machine learning for personalized recommendations, enhancing customer experience. The company also operates B2B platform Superstore by Nykaa, serving offline beauty stores and salons.

Products / Services

Nykaa offers a wide range of products and services:

• Beauty and Wellness: Includes cosmetics, skincare, haircare, fragrances, bath and body products, and wellness items from over 2,000 brands, including Nykaa Cosmetics, Nykaa Naturals, Kay Beauty, and Dot & Key.
• Fashion: Nykaa Fashion offers clothing, accessories, footwear, and home decor across women, men, kids, and home categories, with 1,500+ brands and 1.8 million products.
• Content Platforms: Nykaa TV (YouTube channel), Beauty Book (magazine), and Nykaa Network (online community) provide beauty and fashion content, including tutorials and reviews.
• Physical Retail: Operates over 100 stores under Nykaa Luxe, Nykaa On Trend, and Nykaa Kiosks formats.
• B2B Services: Superstore by Nykaa distributes beauty products to offline retailers.

Growth & Metrics

As of 2025, Nykaa has a user base of over 23 million monthly active users in its beauty and personal care segment. The company reported a gross merchandise value (GMV) of ₹9,743.3 crore and revenue of ₹5,143.8 crore in FY 2023, with a net profit of ₹21 crore. Nykaa’s e-commerce platforms attract 7.4 million unique visitors monthly, with 50% of 12.6 million total visits driven by organic search and direct traffic. The company operates over 100 physical stores and occupies 5 million square feet of warehouse space. Nykaa employs 7,027 people as of 2025.

Legal Entity Information

Field	Details
Legal Name	FSN E-Commerce Ventures Ltd
Foundation Date	April 2012
Registrar of Companies (ROC)	ROC Mumbai
Corporate Identification Number (CIN)	L52600MH2012PLC230136
Registered Address	104, Vasan Udyog Bhavan, Sun Mill Compound, Tulsi Pipe Road, Lower Parel, Mumbai, Maharashtra, India
Company Status	Active
Directors	Falguni Nayar Anchit Nayar Adwaita Nayar Sanjay Nayar Anita Ramachandran Milan Khakhar Milind Sarwate Seshashayee Sridhara
Authorized Share Capital	₹325 crore
Paid-up Capital	₹285.7 crore

Acquisitions and Investments

Nykaa has pursued strategic acquisitions and investments to expand its portfolio:

• Earth Rhythm: Acquired an 18.51% stake in 2022 for ₹41.65 crore, followed by a majority stake in November 2024.
• Little Black Book (LBB): Acquired 100% in 2022.
• Dot & Key: Acquired by FSN E-Commerce Ventures Ltd in 2021.
• Others include Nudge Wellness, Kica, and Pipa Bella.

Media & Public Recognition

Nykaa has received significant recognition:

• Awards: Falguni Nayar won EY Entrepreneur of the Year 2019, Businesswoman of the Year (Economic Times, 2019), EY World Entrepreneur of the Year 2022, and DNA Women Achievers Award 2023. Adwaita Nayar was named a 2024 Young Global Leader by the World Economic Forum.
• Media Coverage: Featured in Forbes, The Economic Times, and The Times of India for its innovative business model and growth.
• Campaigns: Notable campaigns include #BreakTheHashtag with Taapsee Pannu and #WhatMakesYourBeautiful with Laxmi Agarwal.

FAQs

What is Nykaa?

Nykaa is an Indian e-commerce company specializing in beauty, wellness, and fashion products, operating both online and through over 100 physical stores.

Who founded Nykaa?

Nykaa was founded by Falguni Nayar in 2012, a former investment banker with Kotak Mahindra Capital Company.

What is Nykaa’s business model?

Nykaa operates an inventory-based model for beauty and wellness and a marketplace model for fashion, earning through product sales, commissions, and advertising.

How many products does Nykaa offer?

Nykaa retails over 2,000 brands and 200,000 products in beauty and wellness, and 1,500+ brands with 1.8 million products in fashion.

What are Nykaa’s in-house brands?

Nykaa’s in-house brands include Nykaa Cosmetics, Nykaa Naturals, Kay Beauty, and Dot & Key.

External Links

• Official website
• Nykaa Fashion
• LinkedIn
• Nykaa TV
• Nykaa Fashion Instagram

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