Retailer expects revenue to grow up to threefold by FY30 as it scales beauty and fashion operations and expands its store footprint
India’s beauty and fashion retailer Nykaa has set a target of surpassing USD 5 billion in gross merchandise value (GMV) by FY30, banking on rising discretionary spending and deeper market penetration across beauty and fashion categories.
The company said in its investor presentation that revenue is expected to grow two to three times by the financial year ending March 2030. It also expects Ebitda to increase four to five times over the same period, with margins expanding into the low-to-mid teens.
Beauty Business Focus
Nykaa aims to double or triple the GMV generated by its beauty business by FY30 from the Rs 15,000 crore recorded in FY26. The company also plans to significantly expand its physical presence, targeting more than 600 stores by FY30, compared with its current network of 313 outlets across 99 cities.
Fashion Growth Plans
In its fashion segment, Nykaa is targeting merchandise sales growth of three to 3.5 times by FY30. The company is also aiming to achieve high single-digit Ebitda margins in the business.
The growth targets come amid improving operating performance. Analysts at UBS said on Wednesday that Nykaa delivered merchandise sales growth of more than 25 per cent, improved margins in its beauty and personal care business, and turned its fashion segment Ebitda positive despite concerns around the broader macroeconomic environment and rising competition.
Last month, Nykaa reported its highest quarterly profit since its stock market debut in 2021. Its core beauty business posted sales growth of 27 per cent during the quarter, while the fashion business reached Ebitda break-even.
