Nykaa is a Mumbai-based Indian e-commerce firm that was started by Falguni Nayar in 2012. It provides beauty, wellness, and fashion products online, mobile apps, and 76 physical locations. It was the first unicorn business in India to be led by a woman in 2020.
Nykaa distributes products that are made both in India and around the world. In 2015, the company switched from an online-only to an omnichannel approach, and it started offering products other than beauty. It sells over 2,000 brands and 200,000 products across its channels.
Total Employees; 1600
Company Located In: In total Nykaa has 76 brick-and-mortar stores across the country, offices are in Mumbai, Bangalore, Ahmedabad, Kolkata, Delhi, Punjab.
The corporation intends to grow its offline operations. It plans to open 180 outlets across India by 2024 to enhance its offline presence.
Vision and Mission:
Nykaa’s goal and mission are to inspire and enable individuals to thrive in their uniqueness by building a community and serving as a trusted source of knowledge and products to meet every lifestyle requirement by providing consumers with choice, inspiration, authenticity, and convenience.
Marketing Strategy of Nykaa
Nykaa has been shown to be one of the most capable companies in the beauty and fashion field because of its solid marketing approach centered on digital marketing. The brand concentrates on Tier 1 cities and pitches all potential clients in Tier 2, 3, and 4 cities.
Nykaa has a total of four social media accounts for the promotion of its in-house brand My Nykaa, Nykaa Beauty for the promotion of its e-commerce platform, Nykaa Fashion for the promotion of its e-commerce apparel store, and Nykaa Beauty Book for the promotion of its e-commerce beauty and makeup tips.
Apart from social media marketing, Nykaa majorly relied on Content marketing, YouTube marketing, Event marketing.
Nykaa dream debut IPO Story:
Nykaa filed a draft with India’s Securities and Exchange Board in August 2021 to raise funds through an IPO (Initial Public Offering). The Securities and Exchange Board of India (SEBI) gave the business approval for the IPO in October 2021. The initial public offering (IPO) began on October 28 with a price range of Rs1,085-1,125 per share and ended on November 1, 2021. The IPO raised Rs5,352 crore (US$710 million) at a valuation of US$7.4 billion after being oversubscribed 81.78 times. Nykaa went public on the NSE and BSE on November 10, 2021, with an opening day price increase of 89.2 percent, making creator Falguni Nayar India’s wealthiest self-made female billionaire. Nykaa’s stock hit a high of $2129 (US$28) on its first day of trading, valuing the company at roughly $13 billion. Nayar had a net worth of $7.7 billion after owning 53.5 percent of the company.
Nykaa Growth and Future Plans:
Nykaa now has a monthly active user base of over 5 million people. Here are some additional brand growth highlights: as of October 2021
- Nykaa has claimed to have more than 15 million users.
- It has more than 70 locations throughout India.
- The corporation boasts approximately 500 different brands.
- Nykaa has about 130,000 products available for purchase on its website, app, and stores.
Nykaa had recovered quickly from the effects of the COVD-19 pandemic and had already recovered by more than 90% from where it was during the pandemic outbreak at the end of 2020.
As soon as the corporation recovered from the pandemic’s impacts in October 2020, it established Nykd, an intimate apparel brand.