FSN E-Commerce Ventures, the parent of beauty and fashion retailer Nykaa, expects its December quarter performance to mark a clear step-up in growth, led decisively by its beauty business. In a regulatory filing, the company said consolidated net revenue for the quarter is likely to grow at the upper end of the mid-twenties on a year-on-year basis, reflecting strong consumer demand during the festive period and continued traction from its flagship sales events.
The beauty vertical is set to be the standout performer. Nykaa indicated that net sales value growth for the segment is expected to be in the late twenties, making it the strongest quarter for beauty in the last six reporting periods. The company described the December quarter as its largest ever for beauty in absolute terms. Growth was driven by festive-led demand, a higher contribution from in-house brands, and customer acquisition during the Pink Friday sale, which remains one of Nykaa’s biggest annual shopping events. Net revenue growth in beauty is also projected to remain at the upper end of the mid-twenties.
The fashion business continued to expand, though at a more measured pace. Nykaa said net sales value growth for fashion is likely to be in the mid-twenties, while net revenue growth is expected to stay in the late teens. The slower conversion of sales into revenue was attributed to softer content and marketing income, along with ongoing efforts to optimise channels for its fashion-owned brands.
At a consolidated level, both gross merchandise value and net sales value growth for the quarter are expected to be in the late twenties, reflecting a modest acceleration compared to recent quarters. In the September quarter, the company had reported revenue of ₹2,346 crore, up 25 percent year-on-year.
Nykaa also continues to scale its rapid delivery service, Nykaa Now, which currently operates across seven major cities including Mumbai, Delhi and Bengaluru. The service is supported by 53 stores and offers delivery timelines ranging from 30 to 120 minutes. The company noted that the December quarter update is provisional and subject to audit.
