Nykaa Delivers Strong FY25 Growth; Bets Big on Beauty, Fashion and AI

Nykaa Posts Robust FY25 Growth; Focuses on Beauty, Fashion & AI Mumbai, August 25, 2025 – FSN E-Commerce Ventures Ltd. (Nykaa) reported strong FY25 performance at its 13th Annual General Meeting, led by beauty and fashion verticals, omnichannel expansion, and new AI initiatives. The company’s Gross Merchandise Value (GMV) stood at ₹15,600 crore, up 25% YoY with a five-year CAGR of 42%. Revenue rose 24% to ₹8,000 crore, while EBITDA margin expanded to 6%. ROCE improved to 11.3% from 7.5% in FY24. Nykaa’s beauty segment delivered GMV of ₹11,800 crore (+30% YoY), while fashion reported ₹3,800 crore with margin gains (gross margin at 49%). Offline presence expanded to 250+ stores in 82 cities, consolidating its leadership in specialty retail. The platform continues to attract global names like YSL and NARS while scaling homegrown brands such as Kay Beauty, Dot & Key, and Earth Rhythm. Kay Beauty is set to debut in the UK at Space NK, a first for an Indian beauty brand. Nykaa’s Superstore B2B platform scaled to ₹941 crore GMV, serving 2.8 lakh retailers across 1,100 cities. The company is also embedding GenAI solutions, including “Nykaa Muse” – an AI-powered stylist – and targets 50% AI-driven code generation by year-end. Sustainability remains core: 96% of packaging is sustainable, 160 MT plastic recycled, and 1.5 million boxes reused. The Nykaa Foundation impacted 25,000 students and empowered 11,500 women. “Nykaa remains poised to lead India’s beauty and fashion revolution with its omnichannel ecosystem, strong brand portfolio, and tech-first approach,” Chairperson Falguni Nayar said.