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Nykaa's challenges: Revive fashion biz, improve margins
Mint Chennai
|February 13, 2025
The re-entry of Singapore-based Shein is expected to increase competition in India's fashion market.
The re-entry of Singapore-based Shein is expected to increase competition in India's fashion market. For now, though, FSN E-Commerce Ventures Ltd, the parent of Nykaa, is unperturbed. In its December quarter (Q3FY25) earnings call, Nykaa's management dismissed concerns over Shein's launch, citing India's large and diverse fashion market and noting that Shein is dominant only in Western wear.
Nykaa plans to achieve Ebitda break-even in the fashion business by FY26. In Q3FY25, fashion's contribution margin as a percentage of net sales value (NSV) rose 184 basis points year-on-year (y-o-y) to 8.8%.
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