Nykaa targets US$5B GMV by FY30, betting on discretionary spend and fashion scale-up
Nykaa is guiding to US$5 billion GMV by FY30, with revenue rising 2-3x and EBITDA 4-5x as margins move to low-to-mid teens. Beauty GMV is set to hit Rs. 15,000 crore in FY26, while the store footprint expands to 600+ from 313 across 99 cities.
Nykaa targets US$5 billion GMV by FY30, driven by discretionary spending and fashion scale-up. Plans to double/triple beauty GMV, expand to 600+ stores from 313, with EBITDA growing 4-5x and margins in low-to-mid teens.