Nykaa looks to double revenue in 2018-19

Beauty brands retailer Nykaa looks to double its revenue to around Rs 1,100 crore by 2018-19-end as it is bringing in new brands, a top company official said.

The company, which at present has 22 outlets across the country, is looking at opening 180-200 Nykaa stores in the next 4-5 years.

"We are looking at 180-200 Nykaa outlets across the country in the next 4-5 years. We have a want and dominant footprint to be relevant in the beauty and makeup space. We have set a target of growing by 100 per cent our revenue to about Rs 1,100 crore in the current financial year," Falguni Nayar, the founder & CEO of Nykaa told PTI.

Nykaa reported a revenue of Rs 570 crore in 2017-18.

At present, physical stores contribute under 10 per cent to the online beauty retailer's revenue.

When asked if the company is looking raising funds to support its expansion plans, Nayar said, "We may look at raising funds. But it will not be a lot."

Nykaa said the company is looking at bringing in about 20 brands this year.

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Nykaa at present sells over 850 brands across makeup, skincare, hair care & wellness categories.