Nykaa, a trailblazer in the beauty and fashion retail industry, has soared to remarkable heights under the visionary leadership of Anchit and Adwaita Nayar. Anchit spearheads the Beauty E-Commerce division as CEO, while Adwaita leads the Fashion and Home segment. Their dynamic leadership has propelled Nykaa to the forefront of India's beauty and fashion markets, redefining industry standards and achieving unprecedented success.
Anchit Nayar: Revolutionizing Beauty E-Commerce
Anchit Nayar, Executive Director and CEO of Beauty E-Commerce, attributes Nykaa's phenomenal success to its unwavering commitment to delivering an unparalleled customer experience. With a strategic focus on skincare, makeup, and fragrance, Nykaa has positioned itself as a frontrunner in India's Beauty, Personal Care (BPC) market. Anchit's vision emphasizes democratizing beauty access and fostering awareness and aspiration in this rapidly growing market.
Stellar Performance: Nykaa Beauty witnessed remarkable growth in fiscal year 2023, with key performance indicators soaring by 30 percent year-over-year. The online platform garnered close to a billion visits, with over 10 million transacting customers. Anchit underscores Nykaa's customer-centric approach, maintaining substantial average order values of Rs 1,857.
Global Recognition: Nykaa's reputation as a trusted partner for global and domestic brands entering the Indian market has garnered global recognition. The brick-and-mortar retail strategy, with 145 stores across diverse formats, achieved a 67 percent year-over-year growth in gross merchandise value.
Omnichannel Excellence: Nykaa's omnichannel approach, bolstered by a robust social media presence and immersive in-store experiences, has been instrumental in its success. With 11.6 million followers across various channels, Nykaa engages customers through live-streaming sessions and Beauty Bars, enhancing brand loyalty and engagement.
Adwaita Nayar: Pioneering Fashion Retail
Adwaita Nayar, Executive Director and CEO of Nykaa Fashion, shares the remarkable journey of Nykaa Fashion since its inception in 2018. With a focus on delivering a fashion-forward shopping experience, Nykaa Fashion has served over 4.3 million customers and collaborated with over 2,850 brands, offering curated products that resonate with discerning shoppers.
Exponential Growth: Nykaa Fashion witnessed exponential growth in FY 2023, nearly doubling its portfolio of brands and achieving a year-over-year GMV growth of 47 percent. The Global Store, featuring coveted international retailers, contributed significantly to western wear sales.
Proprietary Brands: Nykaa Fashion's portfolio of proprietary brands expanded to 13, with a remarkable GMV of Rs 3,313 million and a staggering year-over-year growth rate of 141 percent. The brand successfully ventured into new categories such as active-wear and sarees, catering to diverse audiences.
Under the dynamic leadership of Anchit and Adwaita Nayar, Nykaa continues to set unprecedented benchmarks for growth, innovation, and customer-centricity, reaffirming its position as a trailblazer in India's beauty and fashion retail landscape.