Beauty and personal care e-commerce firm Nykaa said that the company is expected to post accelerated growth in Q4FY24 with strong GMV growth of early thirties at a consolidated level, on a year-on-year basis. In a regulatory filing, its parent firm, FSN E-Commerce Ventures Ltd said that Net Sales Value (NSV) and revenue growth for the quarter is expected to be in the high twenties on a YoY basis. With this, it added, the company’s full financial year 2024 revenue growth is estimated to be in mid-twenties YoY.
During the fourth quarter of FY24, the company witnessed momentum across its key drivers of customer acquisition, platform conversion and user level growth, it said. This has led to a healthy order volume growth, reflecting customer demand. “Strong offtake from key categories such as makeup and skin, as well as a highly successful ‘Pink Love Sale’ in the quarter has led to overall BPC growth,” Nykaa said. The company’s BPC vertical is expected to report GMV growth of around 30 per cent and NSV growth is expected to be in mid-twenties on a year-on-year basis.
In the fashion category, while the industry growth remained muted, Nykaa Fashion maintained its growth momentum from the previous two quarters. The fashion vertical GMV, it said, is expected to grow in the high twenties for Q4 and NSV growth is expected to in the mid-twenties on a YoY basis. “Nykaa Fashion continues to find success by prioritizing sustainable growth, focusing on a premium and differentiated offering and high-quality customer acquisitions. This is reflected in outperformance of focus categories as well as core customer segments in the quarter compared to overall growth,” the company said in the exchange filing.
Other vertical which predominantly constitutes Superstore by Nykaa (e B2B platform) too continued to scale and the other vertical GMV growth for the quarter is expected to be in mid-sixties while the NSV growth is expected to be around 80 per cent on a YoY basis.