Nykaa reports robust growth and strengthened premium beauty partnerships
Indian retailer Nykaa has reported a 28% increase in gross profit for Q4 compared to last year, responding to a surge in premium beauty. The beauty division remained strong throughout FY 24–25, achieving growth of approximately 30% in the year.
Nykaa has 237 stores across India. This year will see the retailer’s highest number of brand launches to date. In the last quarter, it launched over 270 brands, many within premium beauty, reporting it to be “the preferred platform for global beauty brands entering India.”
Premium beauty in India remains strong, and Nykaa continues strengthening its partnerships with big brands such as L’Oréal and Beiersdorf. Nykaa’s Superstore platform, which supplies beauty products to small retailers, recorded an 18% year-over-year increase in average selling price, signalling a growing demand for premium personal care brands in the wholesale channel.
The report states that two-thirds of the company’s physical store gross merchandise value came from premium brands.
The new financial year welcomed other giant premium beauty brands such as Chanel, Armani, and Nexxus to retail at Nykaa.
Premium beauty in India
Global brands such as The Estée Lauder Companies recently partnered with Startup India to help strengthen the country’s beauty innovation and support Indian entrepreneurs in the personal care market.
Other premium brands, including Kylie Cosmetics and Christian Breton, joined the booming Indian beauty market last year.
Disposable income in India continues to grow, fueling beauty and fragrance demand.
