This involves operating their direct-to-consumer website, freestanding stores as well as retailing the brand on Nykaa’s website and stores
Strengthening its decade-long partnership with L’Oreal in the country, Nykaa will now be taking over the end-to-end India operations of Kiehl’s. The company has signed an exclusive distribution agreement with L’Oreal Luxe.
“We are happy to say that we are taking over the Kiehl’s operations in India and we will provide end-to-end full stack services for Kiehl’s in India,” Anchit Nayar, Executive Director and Chief Executive Officer, Beauty, FSN Ecommerce, stated during the company’s earnings call.
This includes operating their direct-to-consumer website, freestanding stores as well as retailing the brand on Nykaa’s website and Nykaa stores, Nayar added. The company has further strengthened its relationship with L’Oreal in the third quarter with three brands that they are bringing into India in partnership with Nykaa.
“The first is La Roche-Posay, which is one of L’Oreal’s most prominent derma cosmetic skin care brands globally and that is an exclusive launch, which we did for them. Second is we have secured the rights for the exclusive distribution of NYX Makeup, which is a very trendy Gen Z favourite makeup brand, that has launched exclusively with Nykaa through our Nykaa Global store, which is our distribution business,” Nayar pointed out.
The company, in a regulatory filing, highlighted that it has completed the acquisition of the balance 40 per cent stake in Nudge Wellness (Nudge) from the Onesto Labs based on the pre-agreed terms. “We wish to inform that the company has now executed all necessary transaction, procedural documents completing the acquisition and consequently the equity shares have been duly credited to the demat account of the company, making Nudge a wholly-owned subsidiary,” the company added.
Driven by growth in the beauty segment and accelerated momentum in fashion, FSN Ecommerce, the parent company of Nykaa, has registered a 156 per cent year-on-year (YoY) uptick in its net profit. The company’s net profit rose to Rs 67.74 crore in the third quarter of the current financial year as compared to Rs 26.41 crore in Q3FY25.
The company achieved the highest ever gross merchandise value (GMV) to date. Consolidated GMV stood at Rs 5,795 crore in the recently concluded quarter, reflecting 28 per cent YoY growth. The consolidated revenue from operations increased 27 per cent YoY to Rs 2,873 crore.
