India's Nykaa aims to surpass $5 billion in goods sold by fiscal 2030 (updated)

Fsn E-Commerce Ventures

18/06/2026 10:44

Updates with details from investor presentation

    June 18 (Reuters) - India's beauty and fashion retailer Nykaa FSNE.NS said on Thursday it aims to exceed $5 billion in gross merchandise value (GMV) by fiscal 2030, as it bets on rising discretionary spending. 
   Here are the details:
The company expects revenue to grow around twofold to threefold by the year ended March 2030, it said in its investor presentation
This will translate into four to five times the growth in earnings before interest, taxes, depreciation and amortisation (EBITDA), with margins expanding to the low-to-mid teens, it added
Nykaa aims to double or triple the GMV from its beauty business by fiscal 2030 from the 150 billion rupees ($1.59 billion) it logged in fiscal 2026
It also plans to expand its retail store network to more than 600 outlets from its current count of 313 stores across 99 cities
It is targeting an increase of three to 3-1/2 times the growth in fashion merchandise sales by fiscal 2030 as well as hitting high single-digit EBITDA margins
On Wednesday, UBS analysts said Nykaa delivered more than 25% growth in merchandise sales, improved its beauty and personal care margins, and turned its fashion business EBITDA positive despite concerns over the macro environment and competition
Last month, Nykaa reported its highest-ever quarterly profit since its 2021 public listing, with its core beauty business posting 27% sales growth and its fashion business breaking even at the EBITDA level

($1 = 94.2650 Indian rupees)

 (Reporting by Surbhi Misra in Bengaluru; Editing by Janane Venkatraman)
 ((Surbhi.Misra@thomsonreuters.com |  X: https://twitter.com/SurbhiMisra_  |;))