Nykaa parent FSN E Commerce Ventures expects its revenue to grow by almost 30% in the first quarter of FY27 (April–June 2026). The company says this is one of its strongest periods in recent years, helped by a sharp recovery in fashion and steady demand in beauty products.
Growth Drivers
Company expects its overall sales to grow by more than 30 percent. This is seen as a positive sign after earlier concerns about slow customer growth and weak margins in non beauty categories. After the update, the share price rose to Rs 317.35, giving the company a market value of Rs 90,883 crore.
The beauty division is expected to grow nearly 28–29%. Expansion of offline stores and new customer onboarding helped. Nykaa now has 324 physical stores across India. Its house brands like Kay Beauty, Nykaa Cosmetics, and Dot & Key continue to perform well both online and offline.
Fashion Recovery
Strongest recovery was seen in the fashion division, which is expected to show growth in Net Sales Value in the mid fifties percentage range, a clear improvement compared to the weaker cycles of the last financial year.
In its filing, management explained that the better results came from structural efficiencies, pointing to lower gaps between Gross Merchandise Value and Net Sales Value, along with a wider mix of brands and steady marketing investments.
Customer acquisition pushed across apparel segments covering women, men, kids, and home decor categories. In addition, the long term licensing and distribution partnership with global sportswear brand Nike delivered promising early sales volumes, strengthening Nykaa’s focus on the profitable premium fashion retail space.
Latest update shows the fashion division gaining momentum after a slowdown that had weighed on the company’s overall value for several quarters. Even so, investors and analysts remain careful in their outlook.
The wider market will now watch for the release of detailed and audited quarterly financials to see if the faster sales growth has turned into stronger operating margins and net profits, or if heavy marketing costs continue to hold back profitability through the rest of the 2027 financial year.
About Nykaa
Nykaa is a lifestyle retail platform founded by Falguni Nayar. It sells beauty, personal care, and fashion products. Nykaa runs both online and offline stores, including Luxe, On-Trend, and Kiosks, along with its apps and websites. It works on a curated inventory model and focuses on beauty, personal care, and fashion.
Using an omnichannel strategy, Nykaa operates Luxe, On Trend, and Kiosk stores along with its apps and websites to serve premium demand across tier 1, tier 2, and tier 3 cities.
