Indian beauty and fashion retailer Nykaa has set out an FY30 strategy centred on building a beauty and lifestyle business with a gross merchandise value (GMV) of more than $5bn by FY30.
The company said it is aiming for revenue growth of 2-3 times and EBITDA [earnings before interest, taxes, depreciation and amortisation] growth of 4-5 times by FY30, with “disciplined execution, operating leverage and capital-efficient investments” supporting the plan.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
It is also targeting return on capital employed of more than 40% and low-teen to mid-teen EBITDA margins during the period.
Nykaa said its GMV has risen more than sevenfold in the past six years.
Nykaa executive chairperson, founder and CEO Falguni Nayar said: “Over the years, we have systematically expanded our addressable market, moving into adjacent categories and capturing a larger share of consumer spend.
“Wellness is the next major opportunity, and one we believe is a natural extension of our journey. As consumers increasingly embrace a more holistic approach to self-care, the convergence of beauty, wellness and longevity is creating a large and attractive growth opportunity.”
Nykaa Beauty ended FY26 with Rs150bn ($1.58bn) in GMV and 313 stores in 99 cities.
By FY30, the business plans to grow GMV by 2–3 times, take its store network to more than 600 locations and increase its consumer base to 100 million.
According to the company, it now serves 55 million consumers across beauty, fashion, wellness and related categories, and operates in beauty, fashion, consumer brands, retail and B2B distribution.
Nykaa Fashion posted FY26 GMV of Rs49.54bn while annual transacting customers reached 4.3 million, compared with 2.5 million three years earlier.
The business is seeking GMV growth of 3–3.5 times by FY30, alongside high single-digit EBITDA margins and a long-term profitability target of more than 10%.
House of Nykaa Beauty reported FY26 GMV of Rs27.88bn, which the company said was nearly ten times higher than six years ago.
It is aiming to surpass Rs50bn in net sales value by FY30 through organic and inorganic growth initiatives, category expansion and premiumisation.
Superstore by Nykaa increased FY26 GMV to Rs11.87bn and expanded its retailer base to 494,000.
By FY30, it is targeting more than Rs35bn in GMV and over one million retailers, while moving towards breakeven.
Nykaa also said it will widen the use of AI in consumer discovery, personalisation, merchandising and operations, including Skin Scan, Virtual Closet and integration with ChatGPT in India.
