Nykaa Fashion, Nykaa's retail arm for fashion and accessories, has forayed into offline retail with a new store launch in New Delhi. The brand, which only had an online existence, has introduced its first store at Ambience Mall in Vasant Kunj.
Adwaita Nayar, CEO, Nykaa Fashion, said, “We have a roadmap for the next couple of months wherein we will be opening 10-15 stores. The reason we are opening in Delhi first, because it’s our biggest market for fashion and beauty both. After Delhi, we will move to Mumbai and Bangalore followed by other metros.”
“Fashion is one of the most significant segments for the company and is getting a lot of investment, management, bandwidth, and focus. My vision for fashion is quite large as I want the store to be a lifestyle destination. We will do women, men, kids, a luxury store for designer wear,” Adwaita added.
Nayar further stated, “It will be a store where people can find anything that is related to fashion, whether they're looking for thermals, or anarkalis or maang tikka or fancy hair accessories. And, we will replicate it for other categories - for men, kids, home. In-home, we'll be away from furniture and larger appliances for now. Home decor is also on the cards.”
At present, 600 brands are listed on Nykaa Fashion’s online store.
“Nykaa Fashion is growing strongly. Over the last 12 months the business has grown 10x, over the last six months it has grown 6x,” Adwaita said.
In 2012, Nykaa first started as an online beauty retailer and gradually expanded its offline footprint. Today, the brand has 76 stores across India.
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