Data from ACE Equity shows that shares of Zomato, Nykaa (FSN-e Commerce), and PB Fintech have surged in the range of 4.6 per cent to 11.4 per cent in one month
Fashion and beauty retailer Nykaa hopes to actively defend its turf amid competition from Indian conglomerates and new players, as it stacks up strongly with a huge lead and advantage of brand play, customer base and business insights, founder and CEO Falguni Nayar has said. Nayar told PTI in an interview that retail is a "very big segment with space for many" and added that the omnichannel beauty and fashion retailer will stay focused with offerings that are far beyond consumers' expectations so that they do not have a reason to move to competition. The comments assume significance in the backdrop of stiff competition unfolding in India's rapidly-growing beauty ecommerce space. Reliance Retail has launched an omni-channel beauty retail platform, Tira, raising the competitive heat in the booming beauty and personal care marketplace that has players like Nykaa, new entrant Tata Cliq Palette, Myntra and others. Nayar said Nykaa has helped the beauty segment grow from a "small niche .
Nayar, speaking at the Startup Mahakumbh in New Delhi on Monday, said that India is currently at a stage similar to where China was 15 years ago
India is beeping on the radar of global players with strong drivers like young, aspiring population, rising income levels, and resilient infrastructure and digital networks, Nykaa founder and CEO Falguni Nayar said on Monday, adding she is extremely "optimistic" and "confident" about the future. In an exclusive interview with PTI, the self-made billionaire also said the recent instances of corporate governance lapses in some well-known startups will lead to greater scrutiny by investors (in the ecosystem), and asserted that governance agenda has to be set out very early in an entrepreneurial journey. Any compromise on governance just because a company is growing or chasing size and scale cannot be justified, she emphasised. Nykaa, she added, has been very strong on governance. Nayar - the top boss at omnichannel beauty and fashion retailer Nykaa - said her entrepreneurial journey - which started at the age of almost 50 - has been "amazing" and advised aspiring entrepreneurs to be .
Beauty retailers report high demand for prestige and premium segments
Nykaa stock outlook: Q3FY24 Ebitda missed forecasts as weak demand weighed across line items
Stocks to Watch on Wednesday, February 7, 2024: The parent company of Nykaa nearly doubled its consolidated net profit to Rs 16.2 crore during Q3FY24
The company's consolidated revenue from operations grew 22 per cent YoY to Rs 1,789 crore, up from Rs 1,462 crore a year ago and Rs 1,507 crore in Q2 FY24
The company's consolidated net profit rose 97% to 161.9 million rupees ($1.95 million) in the third quarter ended Dec. 31. It had posted a drop in net profit in three of its previous five quarters
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Overall at the consolidated level, Nykaa expects overall NSV to grow at a mid-20s percentage rate and revenue to grow at a low-20s percentage rate on YoY basis in 3QFY24
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Shares of Metro Brands surged 9 per cent to hit a new high of Rs 1,440.45, while Nykaa gained 3.5 per cent to Rs 178.20 on the BSE in intra-day trade today
Stocks to watch on Thursday, November 30, 2023: Debutants Tata Technologies, Gandhar Oil Refinery and Fedbank Financial Services likely to hog the limelight in trades today.
"These agreements will enable Foot Locker to efficiently access the large and growing sneaker market in India," Nykaa said
That apart, analysts believe stable profit margins, too, are acting as tailwinds for the companies
Closing Bell on November 7, 2023: The broader markets, on the other hand, held steady gains throughout the session, settling 0.53 per cent and 0.38 per cent higher, respectively
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The firm's total expenses for the quarter came in at Rs 1,502 crore, a 22 per cent increase from Rs 1,228 crore in Q2 FY23
The total income for Q2FY24 came in at Rs 1,515.6 crore, compared to Rs 1,237.3 crore year-on-year