At its Annual General Meeting on September 18, FSN E-Commerce Ventures Limited, the parent company of multi-brand cosmetics behemoth Nykaa, stressed the relevance of vertical commerce. In the previous year, the omnichannel company reported that over 15 million customers transacted across its platforms.
“Today, millions of consumers interact with us billions of times per year across touchpoints and platforms,” said Nykaa’s CEO, managing director, and chairperson, according to the Indian Retailer Bureau. “With the rapidly evolving power of personalization, we are excited about how we will reshape discovery, browsing, and shopping journeys—while tailoring for and catering to the specific needs of every individual consumer.”
Nayar expressed her hope for growth in India’s fashion and beauty industries during the company’s 12th annual general meeting. The company reported about two billion yearly internet visitors and supplied over 33 million consumers, accounting for 30% of the online cosmetics market.
“I am a big believer in vertical e-commerce, and both beauty and fashion are categories that are about building aspiration, driving education, and facilitating the right discovery needed to drive inspiration and purchase,” according to Nayar.
Nykaa continues to increase its Indian and international brand range, with over 6,700 brands now available across its platforms, the company announced at the AGM. In addition, the company has grown its supply chain to 44 warehouses across India, up from 18 in the fiscal year 2021. This has allowed Nykaa to cut order fulfillment expenses by 19% and order-to-delivery times by an average of 18%.
