According to a report by PTI, FSN Ecommerce Ventures, the parent company of Nykaa, has projected a year-on-year consolidated revenue growth of around 22-23 per cent for the first quarter of FY25. This growth is expected to be mirrored in the company's beauty vertical, despite a "muted" demand environment in the fashion industry.
In a BSE filing on its quarterly revenue update, the company stated that its GMV (Gross Merchandise Value) growth for the April-June quarter is anticipated to be in the mid-20s year-on-year. FSN E-Commerce Ventures also announced that it is starting vertical-wise segmental reporting from this quarter.
The beauty segment includes Nykaa's online beauty platform, beauty-owned brands, physical stores, eB2B distribution business 'Superstore by Nykaa', and the Nykaa Man beauty and personal care business. The fashion segment comprises the Nykaa Fashion platform, fashion-owned brands, the content platform Little Black Book (LBB), and the Nykaa Man lifestyle business.
According to media reports, the beauty vertical's revenue growth for the quarter is projected to be similar to the consolidated entity's growth. Despite a slower growth in its physical retail business, impacted by elections and heatwaves across North India, the GMV growth is expected to align with the long-term beauty and personal care industry growth trajectory.
However, the Indian fashion industry continues to face challenges with a subdued demand environment. The fashion vertical's revenue is expected to grow around 20 per cent year-on-year, though GMV growth is projected to be lower, in the mid-teens year-on-year.
(PTI)
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