07 December 2021, Mumbai:
For Nykaa, going public has offered many advantages. An IPO was always in the pipeline since the early days of the company, says Anchit Nayar, CEO- Beauty E-commerce, Nykaa.
Wanting to be around for many years in the industry and to serve customers in the best way possible, Nykaa took the business to the public markets, Nayar says. The company had been very focused on corporate governance since the early days and even as a private company had independent directors on the board.
So from the early days a listing was always on the anvil. And Nykaa hopes to reap the value that public markets bring to a company in terms of corporate governance as well as long-term sustainability for the business.
Nykaa is a lifestyle e-commerce platform and has 84 physical stores. The company has done a lot of things differently from other e-commerce companies. It has a culture of frugality, a culture of respect for capital, and delivering a return on equity.
The beauty and fashion section in the e-commerce industry is growing rapidly. Consumers today are very digitally savvy and are willing to pay the right price for quality at a time when the sector is riddled with counterfeit issues globally. The consumer has more options and there is enough room for multiple players.
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