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FSN E-Commerce Ventures, the owner of the Nykaa brand, on Sunday projected a consolidated net revenue growth of nearly 30 per cent for the first quarter of FY2026-27, to be led by a sharp acceleration in its fashion business. According to a regulatory filing, the company expects its consolidated Gross Merchandise Value (GMV) and Net Sales Value (NSV) to grow in the "early thirties" on a year-on-year basis for the quarter ended June 30, 2026. "Nykaa's Fashion vertical has started FY2027 on a notably stronger footing, with NSV growth expected to be in mid-fifties, marking a sharp acceleration from previous quarters. The Fashion business continues to see improvement in GMV to NSV funnel, supported by reduction in leakages," the company said. Nykaa attributed the growth of its core platform business to a wider brand assortment and recent marketing investments, which it said translated into new customer acquisitions. Meanwhile, the flagship beauty segment is projected to grow in the "lat
Cosmetics major L'Oreal on Monday said it plans to more than double its business in India over the next couple of years besides expanding its factories. L'Oreal CEO Nicolas Hieronimus also said India is a key strategic market for them and it is one of the world's fastest-growing beauty markets. "India is a very strategic market for L'Oreal. We intend to more than double our business in the next couple of years , expand our factories which are today manufacturing 95 per cent of what we sell in India and also exporting to rest of the region. "So it is a country of opportunities and one of the fastest beauty markets in the world and is a big priority for L'Oreal," he told reporters here. He met Commerce and Industry Minister Piyush Goyal, who is here on an official visit to hold meetings with French leadership and firms to boost trade and investment between the two countries. "We are exporting hair and skin products, particularly to the Gulf region, it is a beginning of a big ...