What Nykaa does

Nykaa, operated by FSN E-Commerce Ventures Ltd. (NSE/BSE: NYKAA), is an omnichannel beauty and fashion retail platform founded in 2012 by Falguni Nayar and headquartered in Mumbai, India. The platform serves over 55 million consumers through a combination of its e-commerce website, mobile app, 313+ offline stores across 99 cities, the B2B Superstore platform serving more than 1 million retailer partners, and international storefronts in the UK (Kay Beauty via Space NK) and Saudi Arabia (Nysaa Trading LLC). Its product surface spans more than 1,000 third-party global brands (including Fenty Beauty, Charlotte Tilbury, Rare Beauty, M.A.C, Huda Beauty, and L'Oréal Paris) alongside the owned 'House of Nykaa' portfolio comprising co-founded brand Kay Beauty, acquired brands Dot & Key, Earth Rhythm, and Nudge Wellness, minority stake Kica Active, and private labels Nykd, Nykaa Cosmetics, and Nykaa Naturals.

The underlying technology architecture is an AI-native retail platform with proprietary features including Skin Scan diagnostics, AR-powered Virtual Try-On, and conversational product discovery. A multi-year OpenAI strategic collaboration announced in June 2026 integrates Nykaa Beauty and Nykaa Fashion as connected apps within ChatGPT, deploys ChatGPT Enterprise and Codex across marketing, customer support, legal, finance, supply chain, and engineering teams, and positions Nykaa as a co-architect of the Agentic Commerce Protocol for India. Nykaa operates end-to-end retail for Charlotte Tilbury boutiques in India, runs a dedicated fragrance concept (Nykaa Perfumery) that generates 3x average order value, and has achieved fashion-segment EBITDA break-even.

Nykaa's revenue model combines marketplace commissions on third-party brand sales, direct product sales from owned brands, and transaction fees from the B2B Superstore platform. In FY26, the company reported operating revenue of Rs 10,022 crore (crossing $1 billion, up 26% YoY), GMV of Rs 19,963 crore (up 28% YoY), EBITDA of Rs 752 crore (up 59% with margins expanding to 7.5%), and net profit of Rs 204 crore (up 183%). Beauty and personal care remains the core revenue driver (Rs 9,139 crore), with fashion contributing Rs 832 crore at 40% YoY growth. Management targets over $5 billion GMV, 600+ stores across 3,500 cities, 100 million beauty customers, and 4-5x EBITDA growth by FY30.

Name

Nykaa

Legal name

FSN E-Commerce Ventures Ltd.

Website

http://www.nykaa.com

Company type

Public

Founded year

2012

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Nykaa is India's largest omnichannel beauty and fashion retailer, operating an e-commerce platform, mobile app, 313+ offline stores across 99 cities, and a B2B Superstore serving over 1 million retailers, with a portfolio of 1,000+ global brands and owned House of Nykaa brands serving 55+ million consumers.

Ownership category

akta.pro rank

Product category

Online Beauty and Personal Care Retail

SIC

Retail-Catalog & Mail-Order Houses (5961)

akta.pro primary industry

Beauty & Personal Care Online Retailers (CRAFADAC)

akta.pro secondary industry

Mass-Market Multi-category (1P/3P) Marketplaces (CRAFAAAA)

Keywords

• Online beauty retail
• Cosmetics marketplace
• Personal care products
• Fashion e-commerce
• Beauty brand platform

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices4 records

Markets served

GTM type

B2C

Offering type

Digital Commerce or Content

Cost components

Operations, Marketing or Sales, Infrastructure, Technology or R&D, Personnel, Supply Chain

Revenue model

1. Beauty and Personal Care (BPC) Revenue: Nykaa's core revenue driver, generating Rs 9,139 crore in FY26. The segment offers a marketplace model with third-party brand sales, first-party private label brands (House of Nykaa), and acquired brands. Revenue is generated through transaction fees and commission from third-party brand sales, alongside direct product sales from owned brands.
2. Fashion Revenue: Nykaa Fashion generated Rs 832 crore in FY26, growing at 40% YoY. The segment operates as a fashion marketplace offering apparel, footwear, and accessories. Fashion achieved EBITDA break-even in Q4FY26, targeting EBITDA margins above 10% by FY30.
3. House of Nykaa (Owned Brands): Nykaa's private label and acquired brand portfolio under House of Nykaa generated Rs 2,788 crore GMV in FY26, growing from Rs 2,100 crore in FY25. Targets Rs 5,000 crore sales by FY30 at 30% CAGR. Includes Dot & Key, Earth Rhythm, Nykd, and others.
4. B2B Superstore: Superstore by Nykaa serves as a B2B platform for retailers, targeting Rs 3,500 crore GMV and over 1 million retailer partnerships by FY30. Growing four-fold over the past three years.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels5 records

Core offering

Nykaa is an omnichannel beauty and fashion retail platform operating a curated online marketplace hosting over 1,000 global brands alongside its portfolio of owned brands (House of Nykaa including Dot & Key, Kay Beauty, Earth Rhythm, Nykaa Cosmetics, Nykaa Naturals, Nykd). The platform serves 55+ million consumers across India via its website, mobile app, and 313 physical retail stores in 99 cities, spanning mass to luxury price tiers. Nykaa also operates a B2B distribution platform (Superstore by Nykaa) serving over 1 million retailer partners with bulk beauty inventory.

Product overview

Nykaa is an omnichannel beauty and fashion retail platform operated by FSN E-Commerce Ventures. The platform architecture consists of the core Nykaa e-commerce marketplace (offering 330+ international and domestic brands) complemented by Nykaa Fashion (apparel and accessories), the House of Nykaa owned brands portfolio (including acquired brands like Dot & Key and Earth Rhythm, co-founded Kay Beauty, and private labels like Nykd and Nykaa Cosmetics), and the B2B Superstore platform. Nykaa operates 313+ physical stores across 99 cities and serves 55+ million consumers. The company expanded into fragrance retail with Nykaa Perfumery and operates Charlotte Tilbury flagship stores in India. The platform leverages AI for personalization, product discovery, and operational efficiency through its OpenAI partnership.

Differentiator

Problem solved

Functional benefit

Brands

• Dot & Key: Skincare and nutraceuticals direct-to-consumer brand acquired by Nykaa in October 2021
• Kay Beauty
• Nykaa Perfumery
• Nykd
• Nykaa Cosmetics
• Nykaa Naturals

Products and services

• Nykaa Beauty Platform Omnichannel beauty e-commerce marketplace serving over 55 million consumers across India via website, mobile app, and 313+ offline stores in 99 cities. Aggregates over 1,000 global brands across skincare, makeup, haircare, fragrances, and fashion categories with AI-driven personalization, Skin Scan, and Virtual Try-On features.
• Nykaa Fashion Fashion vertical of Nykaa offering women's, men's, and kids' apparel, footwear, accessories, and home decor categories. Generated Rs 832 crore in FY26, growing 40% YoY, with partnerships including Nike and H&M, and achieved EBITDA break-even in Q4 FY26.
• Superstore by Nykaa (B2B Platform) B2B distribution platform serving over 1 million retailer partnerships with bulk beauty and personal care products at wholesale pricing. Targets Rs 3,500 crore GMV by FY30 and has grown four-fold over the past three years.
• Dot & Key Skincare and nutraceuticals direct-to-consumer brand acquired by Nykaa in October 2021, marking Nykaa's first D2C beauty brand acquisition. Expanding into skincare and nutraceuticals as a leading brand within the House of Nykaa portfolio.
• Kay Beauty Premium beauty brand co-founded by Nykaa and Indian actor Katrina Kaif. Offers high-performance makeup products distributed across Nykaa's online platforms, physical stores, and through Space NK in the UK after September 2025. First Indian-founded beauty brand to retail with Space NK.
• Earth Rhythm Clean beauty brand within the House of Nykaa portfolio, offering sustainable, natural skincare and beauty products. Part of Nykaa's strategic expansion into clean beauty and sustainable personal care categories.
• Nykaa Perfumery Dedicated fragrance retail concept operated by Nykaa, launched in Mumbai as a flagship store. Operates as a focused fragrance retail format within Nykaa's retail network.
• Nykaa Cosmetics Nykaa's own color cosmetics brand offering a range of makeup products including lipsticks, foundations, and eye makeup. Operated as a private label brand within the House of Nykaa portfolio.
• Nykaa Naturals Private label skincare and beauty brand under Nykaa's House of Brands portfolio, offering natural and ayurvedic-inspired beauty products as part of the owned brand strategy.
• Nykd (Nykaa Private Label) Nykaa's private label brand that crossed Rs 150 crore in revenue, demonstrating channel-agnostic, product-led growth. Part of the House of Nykaa owned brands portfolio.
• House of Nykaa (Owned Brand Portfolio) Portfolio strategy aggregating Nykaa's owned, acquired, and co-founded brands (Dot & Key, Earth Rhythm, Kay Beauty, Nykd, Nykaa Cosmetics, Nykaa Naturals, Nudge Wellness). Generated Rs 2,788 crore GMV in FY26 and targets Rs 5,000 crore in sales by FY30 at 30% CAGR.

Quantifiable outcome

• Revenue reached Rs 10,022 crore in FY26, crossing $1 billion milestone with 26% YoY growth
• +5 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability6 records

Feature5 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• OpenAIcoreTechnology or Integration · 16 June 2026Multi-year strategic collaboration to integrate Nykaa Beauty and Nykaa Fashion storefronts as connected apps within ChatGPT for Indian users. The partnership extends Nykaa's AI capabilities using OpenAI's frontier models across consumer-facing features, back-office operations, and engineering. Nykaa will deploy ChatGPT Enterprise and Codex across marketing, customer support, legal, finance, supply chain, and operations teams. The collaboration will be rolled out in phases over a multi-year term with undisclosed financial details.
• Rare Beauty (Selena Gomez brand)minorChannel Partner/ Reseller/ Distributor · 1 June 2026Nykaa partnered with Selena Gomez-founded Rare Beauty to bring one of the world's most influential celebrity beauty brands to its online platforms and 30 stores across India, giving Rare Beauty access to one of India's largest beauty-focused retail ecosystems.
• Reliance Retail Ventures (TIRA)minorStrategic or Co-development Partner · 1 June 2026Nykaa competes with Reliance Retail Ventures' TIRA beauty platform, which is scaling brands including Puraveda, Pahadi Local, and Anomaly. Both companies are accelerating private-label and acquired brand strategies in India's beauty marketplace sector.
• L'Oréal ParisminorGTM or Marketing Partner · 1 May 2026L'Oréal Paris selected Nykaa as its 'Beauty Partner' in India for the Festival de Cannes 2026, bringing Cannes glamour to Indian consumers through the Nykaa platform. Nykaa collaborated with L'Oréal on marketing and promotional activities centered around the Cannes film festival.
• Charlotte TilburycoreChannel Partner/ Reseller/ Distributor · 9 April 2026Nykaa operates Charlotte Tilbury's first standalone flagship store in India at Nexus Select Citywalk in New Delhi. Nykaa manages end-to-end operations including retail, staffing, training, merchandising, supply chain, marketing, brand management, and omnichannel integration for all Charlotte Tilbury exclusive boutiques in India. The partnership builds on Charlotte Tilbury's digital-first entry in 2020 through Nykaa's platform.
• NikeminorChannel Partner/ Reseller/ Distributor · 1 January 2026Nykaa Fashion formed retail partnerships with Nike and H&M, expanding into new fashion categories including men's, kids', and home, while accelerating its fashion segment growth which reported 40% YoY growth and achieved EBITDA break-even in Q4FY26.
• H&MminorChannel Partner/ Reseller/ Distributor · 1 January 2026Nykaa Fashion partnered with H&M to expand its fashion retail presence, adding men's, kids', and home categories alongside Nike. The partnership supports Nykaa Fashion's accelerated growth trajectory and premium positioning.
• Space NKcoreChannel Partner/ Reseller/ Distributor · 1 September 2025Kay Beauty, Nykaa's co-founded brand with Katrina Kaif, launched in the UK through an exclusive partnership with retailer Space NK in September 2025. Kay Beauty became the first Indian-founded beauty brand to retail with Space NK, receiving the CEW UK Beauty Awards 2026 'Best New Brand' Consumer Choice award less than a year after launch.

Scale indicators11 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Reliance Retail (TIRA Beauty): Reliance Retail's beauty-focused omnichannel platform and the most direct competitor to Nykaa in India. Both operate premium beauty marketplaces, offline stores, and private-label brand strategies, with TIRA backed by Reliance's deep balance sheet and offline retail network.
• Sephora: Global multi-brand beauty retailer operating in India through a partnership model. Sephora shares Nykaa's premium beauty assortment positioning, exclusive brand partnerships (e.g., Rare Beauty, Fenty), and experiential in-store format, and is a global benchmark for omnichannel beauty retail.
• Purplle: Indian beauty and personal care e-commerce marketplace offering 1,000+ brands with growing private-label portfolio. Purplle directly competes with Nykaa across price points and is a leading Indian-headquartered beauty marketplace peer.
• Myntra: India's leading fashion marketplace, owned by Flipkart/Walmart. Myntra is the primary competitive benchmark for Nykaa Fashion, sharing similar premium fashion positioning, brand marketplace model, and tier-2/3 city expansion strategy.
• Ulta Beauty: US-listed specialty beauty retailer with omnichannel model, owned brands, loyalty program, and Beauty AI-driven personalization. Ulta is the closest global comparable for Nykaa's omnichannel beauty retail + owned brand + AI-personalization strategy.

Broad incumbents

• Amazon India (Beauty & Fashion): Generalist e-commerce marketplace with significant beauty and fashion verticals. Competes with Nykaa on assortment breadth and Prime-driven logistics, though Amazon's generalist positioning dilutes its specialty beauty credibility.
• The Body Shop: Global ethical beauty retailer with omnichannel presence including India. Competes with Nykaa in the natural/ethical beauty segment and shares premium positioning, though it is owned by Natura &Co and operates as a single-brand specialty chain rather than a multi-brand marketplace.
• Flipkart: Walmart-owned Indian generalist e-commerce marketplace with a large beauty and fashion category. Flipkart competes with Nykaa across both beauty and fashion through broad assortment and scale advantages, and shares tier-2/3 city penetration ambitions.

Emerging players

• Mamaearth (Honasa Consumer): Indian beauty and personal care D2C brand company that has scaled its own-brand portfolio across baby care, skincare, and beauty. Mamaearth/Honasa competes with Nykaa on owned-brand strategy and premium positioning, and distributes through both Nykaa and other channels.
• Sugar Cosmetics: Indian color cosmetics brand with omnichannel D2C plus marketplace presence. Sugar competes with House of Nykaa in color cosmetics and shares the premium-mass hybrid positioning strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/MyNykaa
• Facebookfacebook.com/MyNykaa
• LinkedInlinkedin.com/company/nykaa-com

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries7 records

Funding overview

Funding rounds16 records

Investors21 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A7 records

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Nykaa