13 December 2021, Mumbai:
Nykaa has opened numerous Luxe and On Trend stores in locations including Pune, Jodhpur, Mumbai, Delhi, and Kolkata.
NykaaLuxe stores carry a multi-brand selection of premium cosmetics also found on the business’ e-commerce store. The selection of cosmetics brands includes MAC, Huda Beauty, Estee Lauder, Pixi, Murad, and Makeup Revolution, among others.
The stores also feature a large display and dedicated section for Nykaa Cosmetics, Nykaa’s private label beauty and personal care brand, which is priced more affordably than many other domestic and international branded cosmetics. Nykaa’s own brand of bath products Wanderlust and skincare and haircare lines Nykaa Naturals also have dedicated segments.
The beauty giant aims at tripling its store count and expanding its network to reach new shoppers across India in the coming few years. Nykaa has re-started its brick-and-mortar expansion after pandemic regulations allowed.
Like many other retailers, Nykaa was hit hard by the pandemic as work-from-home rules reduced demand for office wear, cosmetics, and shoes. The company reported a 96 percent slump in quarterly profit.
But things are looking brighter as the Covid pandemic eases, and India’s festive and wedding season gains pace. Nykaa, which sources many products from Europe, is also focusing on ramping up exports of its own private brands.
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