Beauty Business Maintains Momentum
Nykaa said its Beauty vertical is expected to deliver another healthy quarter, with NSV and net revenue growth in the late twenties. While net revenue growth is expected to trail NSV growth marginally due to the higher contribution of House of Nykaa brands, the company said overall marketing income continued to register strong growth.The omnichannel beauty business maintained the accelerated growth seen in the previous quarter, supported by mid-teen like-for-like growth in retail stores and network expansion. Nykaa’s total store count stood at 324 as of June 30, 2026, according to the filing.
The company added that its owned brands portfolio, including Kay Beauty, Nykaa Cosmetics and Dot & Key, continued to witness strong traction.Fashion growth accelerates
Nykaa said its Fashion vertical started FY27 on a stronger footing, with NSV growth expected in the mid-fifties, reflecting a sharp acceleration from previous quarters.
The company attributed the performance to an improvement in the GMV-to-NSV conversion, lower leakages, expansion of its brand assortment and sustained marketing investments, which drove robust customer acquisition. Growth was broad-based across women’s, men’s, kids’ and home categories.
Nykaa also said its partnership with Nike has delivered encouraging early results, strengthening its premium brand proposition.
As a result, the Fashion vertical’s net revenue growth is expected to accelerate to near fifties, marking a multi-quarter high, the company said in the exchange filing.
