Nykaa’s total GMV increased by 47% year-on-year up to 2,155.8 C in the quarter that began the the financial year 2022-23.
The personal and beauty segment contributed 69% of Nykaa’s GMV in the first quarter of this year.
Nykaa opened eight new physically-based stores during Q1 FY23. which brought the total number of stores to 113 stores spread across 52 cities
FSN E-commerce, which operates beauty-related ecommerce platform Nykaa announced their financials for the period ending in June of 2022, on the 5th day (August 5, 2018).). The key points:
Headline numbers:Nykaa’s gross profit increased by 42% year-on-year (YoY) up to 5 Cr during Q1 FY23. As a quarter-to-quarter basis the net profit dropped 33% from March quarter. The revenue from operating activities continued to increase increasing 41% YoY and reaching the figure of INR 1,148.4 Cr in the first quarter of FY23.
Gross merchandise volumes (GMV) recorded an increase of 47% year-on-year in INR 2,155.8 Cr in the quarter. In addition Nykaa’s EBITDA increased 71% YoY, reaching the figure of INR 46.1 Cr in the first quarter of FY2023, primarily due to increases in gross margin as well as efficiency in fulfilment costs.
The HTML0 format is used for Beauty And Personal Care (BPC) Vertical:The BPC segment was the primary driver of Nykaa’s growth, contributing almost 69% of the total GMV in the first quarter of FY23. It also recorded 8.1 million orders in the period, while the average order value decreased by 2percent YoY, to INR 1,780 for Q1 FY22.
The number of customers who transacted with BPC as unique for the BPC vertical grew by 33 percent year-on-year to 8.6 Million at the close in June of 2022. The contribution margin for the segment also increased by the sum of 530 basis points (basis points) on a per-year basis in the first quarter of FY2023.
Fashion SegmentThe sector of fashion witnessed an increase in the number of orders and contributed 27% of all GMV. In addition, 1.5 Mn orders were reported in Q1 FY23 the AOV rose to INR 4,357 during the first quarter of FY23.
The number of unique users increased by 99percent on a year-to-year basis, reaching 2 million by June’s end. The contribution margin for the fashion vertical increased sequentially by 90 bps during the time frame under consideration.
NEW Growth VerticalsNykaa has said that it will continue to expand its investment in verticals of growth in order to diversify its portfolio. Other than BPC as well as the fashion industry, GMV in the other verticals rose 153% YoY and reached INR 85 crores, adding 3.9 percent to the overall GMV in the quarter ended January 31, FY23.
The new growth segments comprise the company’s newest businesses like NykaaMan B2B marketplace SuperStore by Nykaa and its internal operations. Super Store by Nykaa is home to over 45,000 transactions with merchants across more than 500 cities, as well as 165 brand names listed as of the close of June.
Physical stores:Focusing in the offline growth, Nykaa opened 8 new physical stores in Pune, Coimbatore, Delhi, Ranchi, Ahmedabad and Kolkata in the first quarter of FY23. The total number of stores in operation is 113 in 52 cities.
The beauty e-commerce platform has also increased its warehouse storage capacity in the amount of 2.3 Lakh sq feet by opening seven new warehouses during the timeframe under review. The total of Nykaa has 30 fulfillment centres spread across 14 cities and the capability in the range of 10.5 Lakh sq.ft.
Portfolio Expands:During the quarter, Nykaa Fashion launched an in-house home decor brand called Twig & Twine and also ventured into the men’s underwear category by launching Gloot. In addition, Nykaa also unveiled offerings in the accessories segment along with Azai along with Kica in the category of athleisure.
Nykaa also collaborated together with Estee Lauder in the launch of the ‘The Ordinary line in India and then added items from international brands like Little Mistress, LC Waikiki, Twist, among others to its selections.
We continue to invest in the growth engines of the future, including Superstore of Nykaa, Nykaa Man and international operations. In all of these, our efforts are geared towards establishing the business model that is sustainable. We’re seeing positive revenue growth within these ventures, which gives the company confidence to pursue our goals, Nykaa CEO and MD Falguni Nayar told.