FSN E-Commerce Ventures Ltd, the parent of Nykaa, started FY26 on a strong note, reporting a 26% YoY increase in gross merchandise value (GMV) to ₹4,182 crore and a 23% rise in revenue to ₹2,155 crore for the quarter ending June 30. Net profit jumped 79% to ₹24 crore, with EBITDA up 46%, and margins improving from 5.5% to 6.5%.
Founder and CEO Falguni Nayar attributed the performance to consistent growth across beauty, fashion, and private labels, supported by faster delivery, retail expansion, and a growing customer base – now at 45 million.
The beauty vertical contributed ₹3,208 crore in GMV, driven by online channels, B2B distribution, and its “House of Nykaa” brands, which now account for 18% of beauty sales. Flagship brands like Dot & Key, Nykaa Cosmetics, and Kay Beauty posted strong growth, with Dot & Key doubling sales and Kay Beauty entering international markets.
Nykaa’s offline footprint reached 250 stores across 82 cities, with retail space growing 36% YoY. Experiential flagship formats offering hairstyling and nail spa services led to a 33% increase in store GMV.
Nykaa Fashion also saw momentum, with GMV rising 25% to ₹964 crore. The division narrowed losses, improved engagement, and added global names like Swarovski and Victoria’s Secret.
Meanwhile, B2B arm Superstore by Nykaa grew GMV by 40% to ₹288 crore, serving over 300,000 retailers in 1,100 cities.
The board also approved acquiring the remaining 40% stake in Nudge Wellness, making it a fully owned subsidiary and strengthening Nykaa’s presence in nutricosmetics and dietary supplements.
