**Nykaa Reports Strong Q1 FY26 Performance, Beauty and Fashion Verticals Shine**

FSN E-Commerce Ventures Ltd. (Nykaa) has kicked off FY26 on a positive note, reporting robust growth across its key verticals. As per the company’s provisional update, **consolidated net revenue is expected to grow in the lower end of the mid-20s percentage range** year-on-year (YoY), signaling healthy consumer demand. The **Beauty segment**, Nykaa’s flagship business, reported **GMV growth in the higher mid-20s**, despite challenges during the quarter’s flagship sale due to geopolitical tensions. This strong performance was powered by the ecommerce platform, offline retail stores, eB2B distribution, and its proprietary House of Nykaa brands such as Dot & Key, Kay Beauty, and Earth Rhythm. The **Fashion vertical** showed signs of a turnaround, recording **GMV growth in the mid-20s**, with net revenue growth improving sequentially to **mid-teens**, driven by broader product assortment and customer acquisition efforts. Nykaa continues to expand its global presence through its Middle East venture ‘Nysaa’ and now operates **237 offline beauty stores**, serving over **42 million customers**. With a focus on innovation and brand-building, Nykaa remains a leading omni-channel retailer in India’s beauty and fashion landscape, cementing its appeal to both domestic and international brands.