Bengaluru: hero, ns Falguni nair-installed online Cosmetics And the fashion retailer that’s going public said it has seen a gradual improvement in its gross merchandise value.GMV) since the pandemic began last year as more people moved online to buy its products.
The company, backed by investors such as TPG Growth Lighthouse Ventures and JM Financial, reported a GMV of $199 million in the first quarter of this fiscal, more than three times the $59 million recorded in the same period last year. GMV in e-commerce means the total value of goods sold on a platform, including discounts but excluding returns.
The consolidated GMV covers the company’s beauty, personal care business and fashion verticals. “We pivoted rapidly during the pandemic with the help of smart and agile technology and AI-led curated content and filtered by customer needs and the region they were coming from,” the CEO said. nair said.
The bulk of the company’s sales are from Tier-II and Tier-III cities. While 95% of total sales happen online, the rest comes from 80 stores across the country. It is expected to go up 15% as its stores and footfalls increase along with the easing of the pandemic. It had 7.1 million transacting customers as of August of the current fiscal, up from 5.6 million in the previous year.
Nykaa, one of the few profitable new age companies to be listed, plans to raise around Rs 630 crore by issuing fresh shares and the rest through an offer for sale.
The company, backed by investors such as TPG Growth Lighthouse Ventures and JM Financial, reported a GMV of $199 million in the first quarter of this fiscal, more than three times the $59 million recorded in the same period last year. GMV in e-commerce means the total value of goods sold on a platform, including discounts but excluding returns.
The consolidated GMV covers the company’s beauty, personal care business and fashion verticals. “We pivoted rapidly during the pandemic with the help of smart and agile technology and AI-led curated content and filtered by customer needs and the region they were coming from,” the CEO said. nair said.
The bulk of the company’s sales are from Tier-II and Tier-III cities. While 95% of total sales happen online, the rest comes from 80 stores across the country. It is expected to go up 15% as its stores and footfalls increase along with the easing of the pandemic. It had 7.1 million transacting customers as of August of the current fiscal, up from 5.6 million in the previous year.
Nykaa, one of the few profitable new age companies to be listed, plans to raise around Rs 630 crore by issuing fresh shares and the rest through an offer for sale.
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