Indian cosmetics-to-fashion retailer Nykaa’s father or mother firm reported a 33.2 % rise in first-quarter web revenue on Friday, boosted by sturdy demand for its style merchandise. The TGP-backed firm, which dominates the home on-line magnificence and private care house with practically 30 % market share, has been on an acquisition spree and lately ventured into males’s innerwear and athleisure class with a brand new model.

Nykaa in November 2021 made a powerful market debut, fetching the nation’s first women-led unicorn a valuation of practically $14 billion (roughly Rs. 1,11,200 crore).

The firm stated its gross merchandise worth (GMV) jumped 47 % to Rs. 2,156 crore within the quarter. GMV from its style enterprise jumped 59 %, whereas that from the wonder and private care enterprise rose 39 %.

“The consumer demand for beauty, personal care and wellness is also showing early signs of recovery and we are gearing up for a promising festive season this year,” stated Nykaa CEO and Managing Director Falguni Nayar.

Consolidated web revenue for Nykaa-parent FSN E-Commerce Ventures Ltd stood at Rs. 4.55 crore for the quarter ended June 30, in contrast with Rs. 3.42 crore a 12 months earlier.

Revenue rose 40.6 % to Rs. 1,148 crore.

Last November, Nykaa surged to just about Rs. 1 lakh crore valuation following a blockbuster IPO debut. The debut worth was at a 79.4 % premium to the preliminary public providing (IPO) worth of Rs. 1,125, giving the corporate a valuation of Rs. 95,437 crore.

The firm’s providing final 12 months drew bids price $32.55 billion (roughly Rs. 2,42,119 crore) because it was oversubscribed by practically 82 occasions, signalling sturdy investor demand for a startup that, in contrast to many others, has already achieved profitability.

Nykaa, which capabilities in two broad segments, specifically magnificence and private care and attire and equipment, was integrated in 2012 and swiftly grew to become a well-liked title amongst Indian shoppers.

The firm, whose buyers embody private-equity agency TPG, Fidelity and Indian celebrities Alia Bhatt and Katrina Kaif, runs its on-line operations by means of cell functions and web sites together with 80 brick-and-mortar shops throughout the nation, as of August 31.

© Thomson Reuters 2022