THURSDAY, 8 OCTOBER 2026

QHAAT

Today in Indian Retail

Ecommerce

Nykaa adds 14 stores to reach 338 as Q2 GMV grows near 30 percent

Beauty retailer enters festive season with stronger offline footprint and fashion NSV jump; shoppers get more try-before-buy options.

, Editor··4 min read

Glass beauty counters with product bottles and mirrors under soft store lighting
Glass beauty counters with product bottles and mirrors under soft store lighting

Nykaa’s Q2FY27 business update showed the company added 14 stores in the September quarter, taking the total count to 338 as of 30 September 2026. Consolidated GMV is expected to have grown around 30 percent year-on-year, with net sales value growth in the early 30s and net revenue in the late 20s. The stock rose 5 percent after the 4 October update.

The update follows 29 percent revenue growth in Q1 to ₹2,782 crore. Beauty and personal care NSV had risen 29 percent earlier, while fashion NSV jumped 53 percent. EBITDA margins expanded in the prior quarter.

Store teams now handle higher trial traffic for prestige skincare and colour cosmetics that still convert better offline than pure D2C. A single mall counter can move limited-edition festive kits that dark stores cannot stock deep.

Fourteen new stores take Nykaa to 338 outlets ahead of peak festive billing.

The expansion helps Nykaa defend against pure-play quick-commerce beauty listings on Blinkit and Zepto while pressuring smaller multi-brand beauty counters in the same malls. It also lifts average order values for its own marketplace sellers.

Track the full Q2 numbers and any further store pipeline into the wedding and Diwali window, plus fashion category contribution in the next filing.

Filed under Ecommerce·Ananya Rao

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