Nykaa: revenue 2023

The Indian online marketplace Nykaa experienced an exponential growth since 2018. Starting with a revenue of only a little more than five billion Indian rupees, the yearly revenue amounted to 51 billion rupees in the fiscal year 2023.

The Indian beauty industry

The Indian beauty industry is a significantly expanding market. This expansion went hand in hand with an increase in the per capita spending on beauty and personal care products. Despite its potential in an ever-growing e-commerce industry, the beauty market accounted for only a marginal share of online sales.

Filling the online beauty product niche

With the foundation of Nykaa in 2012, entrepreneur Falguni Nayar attempted to conquer the beauty market, by filling the niche of online sellers for beauty products. Considering the high influence of online sources such as online videos and social media on the beauty behavior of women, the online market appeared promising. Addressing the problem of availability and fake products in tier 2 and 3 cities, Nykaa met less competition compared to marketplaces like Amazon or Flipkart, focused more on other segments. Nykaa covered a wide price range from luxury products to mass products, but its main source of revenue was the sale of make-up.

Revenue of Nykaa E- Retail Private Limited from financial year 2018 to 2023 (in billion Indian rupees)

Characteristic	Revenue in billion Indian rupees
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Release date

August 2023

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Region

India

Survey time period

FY 2018 to FY 2023

Supplementary notes

India's financial year begins in April and ends in March. For example, FY 2018 started in April 2017 and ended in March 2018.

One Indian rupee is equal to 0.011 euros and 0.012 U.S. dollars as of November 2023.

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