Nykaa: Created History In Fashion World
Nykaa: Created History In Fashion World
Nykaa is well reputed and well known and beauty retail company that sells cosmetic commodities both online and offline. And Nykaa started his journey in the year 2012 and Nykaa is Mumbai based and almost it has got 46 stores by now in India. Here is the Women usually work a lot, starting from the dawn and ending to the dusk.It serves the area of India only. It has got a wide range of wellness and beauty products.
Nykaa is Starting as a multi-brand online beauty retailer, Nykaa has extended its business through an app and brick and mortar stores. Today the performance of Nykaa caters to a mass audience as an independent beauty brand. Behind this hugely successful brand is Falguni’s strategy to build an entity which is not only trustworthy but also has all the facets to stand independently and confidently as a label in a highly competitive retail beauty segment.
Falguni Nayar is the founder of the team Nykaa, which is presently one of India’s biggest lifestyle and fashion portal. And She served for 20 long years as a venture investor and merchant with Kotak Mahindra Bank. Later, she resigned and announced her departure publicly to pursue her dream. She created Nykaa and it started creating history right from the beginning and hasn’t stopped yet.
And She is a big example for the entire world that her age is just a number in case of entrepreneurship. About the name of Nykaahere is the some historical reason behind it, The brand name ‘Nykaa’ is derived from the Sanskrit word nayaka which means ‘one in the spotlight’.
The observation move by the entrepreneur proved to be a profitable one with Nykaa posting revenue of Rs.570 crore in the financial year 2017-18, showing an accelerated growth from Rs. 214 crore in the previous year. Meanwhile here is Through its online portal, the brand offers more than 80,000 products across 700 different brands. With a strong conviction, Nykaa, under the statesmanship of Nayar has forayed into lingerie, accessories, kids wear and men’s beauty products.
Marketing Strategy of Nykaa
Here are the many great factor about marketing strategy of the Nykaais the promotion of its beauty and wellness products. And They advertise their products on different types of social media and online on various pages, websites, blogs etc. In order to gain success, they collaborated with Femina to host the ‘Nykaa.com’ which is now very popular and known by all for its proper working and dealing with its consumers. And the Nykaa’s revenue is estimated to be around Rs 1,159.32 crore in FY19.
What is remarkable about this number is that Nykaa had a Loss of Rs. 17.7 crores a year earlier; with resilience, it bounced back and hit the value Rs 2.3 crores as Profit quite soon! Their marketing and content strategy is already built over the last seven years and it’s strong indeed. Nykaa has raised a total of $145.9M in funding over 10 rounds.
Here is the latest funding round on May 8, 2020 was $13 million make its valuation of over $1.2 billion. And Which is entered Nykaa into a startups unicorn club (billion-dollar valuation). And the Nykaa has acquired only one company named 20Dresses on 22nd March 2019.
Recently in present time Nykaa has opened avenues to produce 400+ curated beauty elements right from their sources. This are the way, it gives them a hold over the revenue and makes reliability lesser with the other high-end commissioning brands in the industry!
Strategy of success ( Nykaa )
According to the some report the Nykaa charge a good commission from luxury brands after selling their products and Although beauty lies in the eyes of the beholder, the global beauty industry has never happened to lose its charm. Alongside its steady growth the industry has also garnered a stream of loyal customers over generations. Which girl doesn’t love using cosmetics? From practicing makeup tutorials, experimenting with different shades on idle days, beautifying ourselves prior to a wedding or a function or just putting on a quick light layer before work, cosmetics play an integral role in all our lives.
But past years of analysis days when people were required to physically visit cosmetic stores. Why should brick and mortar stores be the only option when we now have online stores for cosmetics which allow customers to order items at any time and anyplace.
Here is the based on Despite the Indian economy having plunged to list new lows in the recent months owing to the lockdown induced by the COVID19 pandemic, there are still a number of platforms which have continued to stay steady amidst this lockdown.
After the some analysis he is One of these e-commerce platforms for beauty and wellness items is Nykaa, a platform which has become the foremost option for all cosmetic lovers in the Indian nation. Anyone out there who has the slightest interest in making use of beauty and wellness items would have heard of Nykaa at some point in their lives.
This is an e-commerce company which specialises in beauty and cosmetic items. Established in 2012, this platform has played an intrinsic role in overcoming the myth that e-commerce and beauty retail fails to perform in India.
Also in an offline mode, they make their inventory model where they buy beauty products directly from the manufacturers and store them in their warehouses.In the time of 2012, Nykaa entered into the market solely focused on beauty and fashion-based products while other large players like Amazon, Flipkart, Snapdeal, Shopclues targets large varieties of goods.
And target only these sections were the major reasons for the company’s success.The cosmetic retail market in India is growing at about a 16% CAGR and is expected to reach $20 billion by the year 2025.
Which makes its services fast, reduces its time, and also saves its cost from price variation.Recently, Nykaa launched its own 400+ curated beauty products, which opens a new source of profit and makes less reliability on the commission from high-end brands.
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