Overview of Nyka
Nyka Fashion is one of the leading beauty and wellness houses. Nyka Fashion provides its services through online and offline stores. Nykaa Fashion has its official website, http://www.nykaa.com, and a mobile application that is user-friendly and very attractive. Nyka Fashion and multiple beauty product brands also sell men’s and women’s intimate wear.
Nyka Fashion has its headquarters in Mumbai, and its parent organization is FCN E-Commerce Ventures Ltd.
To make shopping easy, Nyka Fashion has a beautiful corner for tutorials, expert reviews, tests your skin type, which product is good for you? and many more.
Nyka Fashion has various outlets throughout the country, is shipping in India and Nepal, and is planning to reach customers worldwide.
Initially, Nyka Fashion was an online store, but gradually it started using an omnichannel strategy.
Name | Nykaa.com |
Type | Beauty and Wellness products |
Founder | Falguni Nayar |
Foundation Year | April 2012; with official launching of website in 2013 |
Total Wealth | ₹2,646 crore |
Headquarter | Mumbai, Maharashtra |
Nationality | Indian |
Owner | Falguni Nayar with total shares of 53.5% |
Founder of Nyka Fashion
Falguni Nayar, in 2012 laid the foundation of Nykaa with 3 employees, which is an Indian Retail beauty store. She is a former Kotak Mahindra Capital Company managing director.
The Nykaa is a Sanskrit-derived Nayaka word, which means an actress or one who loves to be in the limelight. Falguni Nayar is the wealthiest self-made Indian woman and the 10th world’s richest self-made woman.
Falguni Nayar is MBA in Finance from IIM and joined as a Manager at A F Ferguson & Co, where she worked for 8 years. After that, she started working at Kotak Mahindra Capital Company, an investment Bank. Later in December 2007, she became the Managing Director at Kotak Investment Banking. After serving 18 years in Kotak and working for more than 25 years in the corporate industry, she, along with 3 more employees, shifted to shape her dream of becoming an entrepreneur.
Falguni is a perfect example of the saying age is just a number, as, near her 50s, she started Nykaa.com.
Achievements
Falguni was honored with the following:
- FICCI Ladies Organization Award.
- Business Today Award for being in the top 25 business women.
Nyka Fashion Name, Logo, and Its Tagline
Nykaa got its Name from the Sanskrit word “Nayaka,” which means an actress or one who loves to be in the limelight. The meaning of the Nykaa perfectly suits the targeted customers.
The logo of Nyka Fashion is its Name itself with a combination of beautiful and rich pink, defining the color of modern as well as traditional ladies around the world.
The logo of Nykaa is “Your Beauty, Our Passion.”
Vision and Mission of Nyka Fashion
Nyka Fashion was started with a vision to make the availability around the world of beauty products readily available to all ladies’ doorstep. To make it a reality, Nykaa Fashion worked harder to maintain the beauty products’ quality and genuineness.
The mission of the Nykaa Fashion is “Inspiring Indians, both women, and men, to make lifestyle and fashion choices that best suit them.”
Nyka Inside Story and Motivation
Falguni observed inconsistencies in the beauty market and the unavailability of beauty products everywhere. Beauty Bazaar has excellent potential and high demand, but India needed to catch up in this race for easy availability of various beauty products like Japan and France. This led Nayar to start something which can help customers quickly buy their respective products at favorable prices.
Falguni started Nyka Fashion in 2012 from Mumbai and launched its online business in 2013 with 3 employees. Nykaa got only 60 orders, but Falguni did not compromise on the quality to increase the demand. She said,” We’d rather sell the proper shade of lipstick at total price than the wrong shade at half price,”
There were seasonal sales in Nyka Fashion to attract more customers, but it was not to compromise with product quality. To provide genuine products to its customers, Nykaa first buys products from sellers and then sells them on deciding its own pricing policy. The new successful Nykaa Fashion is in front of us.
Nyka Fashion Services
Nyka Fashion is known for selling unlimited beauty brands available from low to very high rates as per the brand value. Types of brands:
- Domestic Brands:
Customers can search for various Indian small to great beauty products. You can easily find new launches and popular brands like Lakme, elle18, MamaEarth, Insight, Lotus, and many more.
- International Brands
Customers can easily find international brands only at Nykaa and beauty products around the world that are challenging to see in your local market. Some of the global beauty brands like Maybelline, Loreal, KayBeauty, Korean products, and more.
- Inhouse Brands
Nyka Fashion started manufacturing its own beauty products with brands like Nykaa and Dot & Key.
Nyka Fashion offers various services like:
- Skin Care Products
- Wellness Products
- Cosmetics
- Haircare
- Apparels
- Intimate Wear
- Jewelry
- Hygiene
Nykaa claims to have around 20,00,000 products with 2000 brands. Nykaa launched 76 offline stores in India. Its stores are labeled as Nykaa On Trend, Nykaa Luxx, and Nykaa beauty Kiosk.
Nyka Fashion Growth Hierarchy
- 2012
Falguni Nayar laid the foundation stone of Nykaa with a mission to reach customers with good quality products of various brands. Nayar has no prior beauty knowledge, and with a small team of 3 members, she started Nykaa.com with its head office in Mumbai.
- 2013
Nykaa’s website was commercially made available to the customer.
- 2015
The only online Nykaa store started expanding to choose omnichannel trading and selling fashion products.
- 2018
Nykaa came with a new feature of Nykaa Pro, which provides additional benefits of accessing professional beauty products and lucrative offers on the app. It is a membership program where customers need to pay to avail of its benefits.
Nykaa also launched Nykaa Network, an online beauty platform.
- 2020
Nykaa launched Nykaa Man in October 2020…a multi-brand online man beauty store. It is the first of its type in India, focusing on providing man beauty or personal care products.
Nykaa, following its omnichannel strategy, launched its first offline store in Delhi in December 2020.
- 2021
Nykaa came with an IPO (Initial Public Offering), and with continuous growth, Falguni had a share of 53.5% in Nykaa.
Nyka Working Pattern
Beauty products have a massive Indian market, and there is always a fear of fake products. Many phony beauty products are available in the market to make more profit, and it is very difficult to identify them.
To build customer trust, Nykaa used to buy products and then sell them to customers so that customers have genuine products.
Nykaa is well known for its excellent service, genuine products, and wide range of beauty and wellness products. Nykaa also started the Nykaa fashion store for women’s wear, bags, and jewelry.
Future Plans of Nyka
Nykaa, within 4 years, performed outstandingly and is a well-known destination for several beauty products, racing with big eCommerce sharks Myntra, Amazon, and more. Till now:
- There are 15 million Nykaa users.
- Nykaa has 105 stores in India.
- There are 11 warehouses of Nykaa in different Indian cities.
- Nykaa is available with 400 brands for its customers.
Along with this, Nykaa is planning to have around 300 offline stores in different parts of Indian and international customers.
Nykaa wants to enhance its warehouse capacity by 40%.
Nyka Branding Strategies
To reach more and more customers, Nykaa advertises everywhere with a particular focus on TV, youtube channels, hiring popular YouTubers to review its brands and magazines, and organizing various events with famous celebrities.
1. Nyka YouTube Channel
Nykaa has a top-rated youtube channel, and the brand refrains from using the channel to sell its products. The channel provides makeup tips, skincare routines, and hair care guidance, and they, along with the tutorial, list the products that the targeted customer can buy from Nykaa. Indirectly Nykaa is selling its products which customers find pretty exciting and informative.
2. Nyka Beauty Book
Nykaa has a blog named “Nykaa Beauty Book” that contains different articles for skincare routines, DIY tutorials, and even videos that are enough to engage the targeted audience.
3. Event Marketing
To be famous and reach the maximum number of customers, Nykaa used to organize various events, including the famous Femina Miss India event, and the brand uses the faces of celebrities for its advertisements.
Nykaa also sponsors many college fests like Mumbai fest and IIM Ahmedabad 2019 fest.
Nykaa Acquisition & Investors
Nykaa will have seen a growth of 20 million by this year, 2022. Nykaa had its tough time during the pandemic with a decrease in its sales and orders, but the company is flying again and is flying. Nykaa, with continuous growth with many challenges, acquired many brands:
- In May 2019, Nykaa acquired 20 dresses. It is a Mumbai-based online platform for lifestyle and fashion.
- In April 2021, Nykaa acquired PepaBella, and it is a jewelry brand from Mumbai.
- In October 2021, Nykaa became the owner of Dot & Kay, with Katerina as its partnered brand ambassador. It was Kolkata-based skincare products.
- In April 2022, Nykaa started using Kica, which deals in women’s swimwear and is Delhi based brand.
In 2022, Nykaa successfully acquired Nudge Wellness, a Delhi-based brand specializing in wellness and Nutraceuticals products.
Nykaa has a long line of investors from business persons to celebrities like Katrina, Alia and more. 27 investors helped Nykaa by investing in the initial period. Some of the Nykaa investors are as follows:
- Lighthouse
- Steadview
- Sunil Knat Munjal
- Fidelity Management
- Aditya Birla Sunlife Mutual Funds
- Morgan Stanley Asia
Conclusion
Nykaa is an Indian leading beauty bazaar providing online and offline stores to serve the demands of targeted customers. As per reports Nykaa had a growth revenue of 7.2% from July-September quarter of 2022, making it Rs 1,231 crore.
Nykaa has various competitors like purple, craftsvilla, Amazon, and many more but Nykaa is deepening its success routes.
NOTE : To know more about such exciting Click Here Blog
Frequently Asked Questions
Falguni Nayar is the founder and owner of Nykaa, with a share of 53.8% in the Nykaa. Before starting Nykaa, Falguni worked for more than 25 years in the corporate industry, and before Nykaa, she worked as a Managing Director at Kotak Investment Banking.
At the age of 50, Falguni, along with her 3 employees, started Nykaa in 2012 and officially launched its website in 2013. Nykaa is an Indian Retail beauty and wellness store that initially operated online, but a few years back, Nykaa had 108 offline stores in various Indian cities. Nykaa is the leading online beauty store, with intense competition from other online brands like purple, craftsvilla, and more.
Nykaa is famous for its wide range of beauty products; it has a collection of more than 400 national and international brands. Nykaa helped customers to buy global products that were earlier not easy to have in India in every physical shop.
Nykaa houses various luxurious, expensive, and professional beauty products. Nykaa owns in-house beauty brands like Nykaa and Dot & Key.
Along with grooming products for women and men, Nykaa deals with Nykaa fashion, intimate wear, kids’ wear, and many more.
Initially, Nykaa started as a beauty store in 2015 it converted into an omnichannel strategy.
Yes, Nykaa is an Indian brand and Falguni Nayar, in 2012, laid the foundation of this successful online beauty bazaar Nykaa. Nyka derived its name from the Sanskrit word “Nayaka,” which means an actress or one who loves to be in the limelight. The logo of Nykaa is its name, and it is filled with a beautiful pink tone that resembles the color of modern and brave women of the 21st century.
“Your beauty, Our Passion” is the tagline of Nykaa, and as per the tagline, it is trying its best to provide genuine and affordable beauty products to its targeted audience.
Nyka fashion has Janvi Kapoor as its brand Ambassador and Nykaa fashion deals in jewelry, designer clothes, and everyday requirements. The brand ambassador helps people believe that Nykaa is good and is a famous model of youth; it also encourages them to buy products from Nykaa.
One of the in-house brands of Nykaa, Kay beauty, has Katerina Kaif as its brand ambassador. Nykaa is a famous Retail store in India that provides several beauty products online and offline. Initially, at Nykaa, there were no shipping charges, and after a few years, Nykaa set a minimum order of Indian rupees 700 for no shipping charges.
Nyka Fashion has a wide range of beauty products. Customers can select the product as per their needs. To purchase from Nyka Fashion, customers can use its website, mobile application, and offline stores in some of the selected cities of India.
There are various product categories at Nyka Fashion like: skincare, hair care, cosmetics, jewelry, innerwear, women’s wear, and many more. There is a time-to-time sale, where customers can quickly get products at minimal rates.
Customers can buy famous professional brands like Mac at Nykaa at very considerable amounts. Nykaa made it easy for every Indian girl to purchase her engaging brand from anywhere in India.
