Nykaa’s Q3 FY24 Performance Reveals Soaring Success in Fashion Vertical

Navigating Challenges, Nykaa’s Fashion Triumph Illuminates Path to Sustained Success


Nykaa, the beauty and fashion e-commerce giant, has recently released its performance update for Q3 FY24, showcasing remarkable strides in its fashion vertical. While the beauty and personal care business faced certain challenges, the overall outlook for Nykaa remains optimistic, driven by significant growth in the fashion segment.

Fashion Vertical’s Phenomenal Surge:

One of the standout revelations from Nykaa’s Q3 FY24 report is the remarkable growth in its fashion vertical. Building on the momentum gained in the previous quarter, the fashion segment experienced robust expansion, reinforcing Nykaa’s position as a formidable player in the beauty and fashion e-commerce landscape.

Beauty and Personal Care Under Pressure:

Despite the overall positive trajectory, Nykaa acknowledged that its beauty and personal care business encountered challenges during Q3 FY24. The Gross Merchandise Value (GMV) growth for this segment is anticipated to be in the mid-twenties. This dynamic reflects the evolving consumer behavior and market dynamics, with short-term pressures impacting discretionary consumption.


Consolidated Outlook:

Nykaa remains resilient in the face of challenges, with a comprehensive outlook for its consolidated Net Sales Value (NSV) and revenue. The company anticipates a mid-twenties growth in consolidated NSV and low twenties growth in revenue on a year-over-year (YoY) basis. This balanced performance across business verticals underscores Nykaa’s adaptability and strategic positioning in the market.

Long-Term Macro Indicators and Short-Term Pressures:

Nykaa’s performance update highlighted the influence of both long-term macro indicators and short-term pressures on consumer behavior. While long-term indicators point towards positive trends, the company acknowledged the impact of short-term pressures on discretionary consumption. This nuanced understanding of market dynamics positions Nykaa to navigate challenges while capitalizing on sustained growth opportunities.


Nykaa’s Q3 FY24 performance update showcases a compelling narrative of resilience and growth. The surge in the fashion vertical, despite challenges in beauty and personal care, underscores the company’s ability to adapt to evolving market dynamics. As Nykaa continues to balance short-term pressures with long-term strategic vision, it remains a key player in the beauty and fashion e-commerce sector, poised for sustained success in the quarters ahead.

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