1. Surge in Quarterly Profit
Nykaa reported a 61% increase in its quarterly profit, driven by heightened demand for premium beauty products. The company’s beauty segment, which accounts for over 90% of its revenue, saw a 27% rise in revenue, totaling 20.6 billion rupees in the quarter ending December 31. This growth is attributed to strategic marketing investments and the introduction of celebrity-endorsed brands like Kay Beauty, co-developed with Bollywood actress Katrina Kaif.
2. Expansion into Smaller Cities
Nykaa anticipates continued growth by expanding its presence into smaller cities. The company aims to tap into the rising demand for luxury beauty products among consumers in these regions, contributing to the overall expansion of India’s beauty and personal care market.
3. Exclusive Launch of Obagi Medical
In January 2025, Nykaa exclusively launched Obagi Medical’s advanced skincare products in India. This includes iconic items like the Daily Hydro-Drops Serum Retinol 1.0 Cream and Professional-C Serum, now available on Nykaa’s online platform and select physical stores. This move aims to meet the growing demand for medical-grade skincare solutions among Indian consumers.
4. Appointment of Rasha Thadani as Brand Ambassador
Nykaa has appointed Rasha Thadani as the new face of Nykaa Cosmetics. Her vibrant and authentic connection with Gen Z is expected to resonate with the brand’s target audience, enhancing its appeal among younger consumers.
5. Physical Retail Expansion
Emphasizing the importance of physical retail, Nykaa has expanded its network to 210 stores across over 70 cities, making it the largest beauty specialty retailer offline in India. This expansion includes various store formats such as Nykaa On Trend, Nykaa Luxe, and Nykaa kiosks, collectively covering over 200,000 square feet of retail space.
6. Beauty&You Awards to Foster New Entrepreneurs
In collaboration with Estée Lauder’s New Incubation Ventures, Nykaa launched the Beauty&You Awards to support emerging beauty entrepreneurs in India. The 2024 awards celebrated innovative brands across skincare, makeup, and fragrance, providing winners with financial support, mentorship, and access to a boot camp to scale their businesses globally.