This shows a slight acceleration from the mid-twenties growth maintained over the past several quarters, the company says
FSN Ecommerce, the parent company of beauty and fashion retailer Nykaa, stated that its consolidated net revenue growth is expected in the upper end of mid-twenties in the third quarter of the current financial year (Q3FY26).
This reflects a slight acceleration from the mid-twenties growth maintained over the past several quarters. The company noted that its consolidated gross merchandise value (GMV) and net sales value (NSV) growth is expected to be in late twenties in Q3 FY2026.
Nykaa’s Beauty vertical is expected to deliver accelerated NSV growth of late twenties, highest in the past six quarters. This growth comes in a seasonally strong quarter, making it the largest quarter till date in terms of absolute scale. The growth was broad based across each of Nykaa’s beauty businesses, the company pointed out in a regulatory filing.
“The outperformance of House of Nykaa brands, the success of Pink Friday sale as well as robust new customer acquisition contributed to the superior performance. As a result, Beauty vertical’s net revenue growth is expected to be in the upper end of mid-twenties,” the company added.
The fashion vertical is expected to continue its revived growth trajectory with NSV growth of mid-twenties in Q3 FY2026. This was supported by strong performance of the core platform business, new brand additions and robust customer acquisition, the company noted.
Emphasising that 2025 was not a year of blind loyalty or long term commitment, Nykaa’s Beauty Rewind 2025 showed that beauty got smarter, faster and a lot more intentional. The country’s beauty consumer is moving faster and showing loyalty when product performs.
The year-end shopping data by Nykaa, which tracks behaviour across over 45 million consumers and 19,000 pincodes, indicated that consumers chased what was viral, sampled what was trending and moved fast, but only the products that truly delivered earned repeat screen time in their routines.
“Ingredient lists were scanned like subtitles. Reviews mattered. Reels influenced carts. And routines evolved in real time. Because in 2025, beauty behaved less like a long marriage and more like dating apps on a good day. Fast, curious, trend led and brutally honest,” the company noted.
