Nykaa Targets US$ 5 Billion in GMV by FY30 as Discretionary Spending and Fashion Scale-Up Drive Growth
- IBEF
- June 19, 2026
Nykaa, India’s beauty and fashion retailer, aims to cross Rs. 47,635 crore (US$ 5 billion) in gross merchandise value (GMV) by FY30. The company said the target is being supported by rising discretionary spending and expects revenue to grow by roughly 2-3 times by the year ending March 2030, with EBITDA projected to expand by 4-5 times and margins moving into the low-to-mid teens. Nykaa also plans to double or triple GMV in its beauty business from Rs. 15,000 crore (US$ 1.70 billion) recorded in FY26 and expand its store network to more than 600 outlets, up from 313 stores across 99 cities. The company expects continued growth in demand for beauty, personal care and fashion products, supported by rising consumer spending and increasing penetration of organised retail and e-commerce platforms.
The company is also targeting stronger growth in its fashion business, where it expects GMV to rise by 3-3.5 times by FY30, alongside high single-digit EBITDA margins. Nykaa said it is integrating artificial intelligence across operations, with more than 40 GenAI initiatives under way, including personalised shopping, automated advertising and AI-led customer service. The broader strategy reflects a shift towards a more technology-driven omnichannel retail model while strengthening its portfolio of beauty, fashion and owned brands. Improving profitability in fashion and sustained momentum in the beauty segment are expected to support the company’s long-term expansion plans. As digital adoption and discretionary consumption continue to rise, Nykaa aims to further strengthen its position in India’s rapidly growing beauty and lifestyle retail market.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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