Nykaa Sets Sights on US$5 Billion GMV by FY30, Backed by Beauty, Fashion and AI-Led Growth

$NYKAA has outlined an ambitious long-term growth roadmap, targeting gross merchandise value (GMV) of over ₹47,635 crore (US$5 billion) by FY30, driven by rising discretionary spending and the continued expansion of its beauty and fashion businesses. The company expects overall revenue to grow by nearly 2-3 times by March 2030, while EBITDA is projected to increase by 4-5 times, with margins improving to the low-to-mid teens. In the beauty segment, Nykaa plans to double or triple GMV from the ₹15,000 crore (US$1.70 billion) achieved in FY26 and expand its physical footprint to more than 600 stores, compared with 313 outlets currently spread across 99 cities. The fashion business is also expected to witness strong momentum, with GMV projected to rise by 3-3.5 times and EBITDA margins reaching high single digits. To enhance customer experience and operational efficiency, the company is implementing more than 40 Generative AI initiatives across personalised shopping, automated advertising and AI-powered customer service. With increasing digital adoption, growing organised retail penetration and sustained demand for beauty, personal care and fashion products, Nykaa is positioning itself to strengthen its presence in India’s rapidly evolving beauty and lifestyle retail market while focusing on both scale and profitability. Disclaimer: This post is for informational purposes only and not a recommendation to buy or sell any securities. I, or my family, associates, or relatives, may have a financial interest in the securities mentioned.