WEDNESDAY, 7 OCTOBER 2026

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Today in Indian Retail

Ecommerce

Nykaa posts ₹7,374 crore 9M revenue on 25% growth

One Nykaa model with owned brands drives the print, putting pressure on pure D2C beauty sellers and offline counters ahead of festive GMV.

, Editor··4 min read

Neat rows of beauty bottles and cartons on warehouse shelves under cool LED light
Neat rows of beauty bottles and cartons on warehouse shelves under cool LED light

FSN E-Commerce Ventures, parent of Nykaa, reported 9M FY26 revenue of ₹7,374 crore, up 25 per cent, according to the 28-29 September 2026 updates. The growth came from beauty GMV, owned brands and the integrated One Nykaa approach across platforms and offline.

Nykaa’s 9M FY26 revenue reached ₹7,374 crore with 25 per cent growth, reflecting strength in beauty and fashion under the One Nykaa model that combines owned labels, global alliances and logistics. The figure was highlighted in sector round-ups dated 28-29 September.

Beauty counters and D2C brand managers now face a larger share grab; a kirana-turned-beauty stockist in Pune loses high-margin serums when Nykaa’s private labels and curated drops dominate search and quick delivery. Owned-brand GMV keeps expanding the margin pool.

Nykaa’s ₹7,374 crore 9M revenue at 25% growth underlines owned-brand muscle.

The print helps Nykaa consolidate against Amazon and Flipkart beauty verticals while squeezing smaller D2C players on customer acquisition costs. It supports offline beauty store expansion plans already flagged by the company.

Next watch is the full FY26 number and any festive-season GMV commentary in the upcoming quarterly update before Diwali.

Filed under Ecommerce·Ananya Rao

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