12 July 2022, Mumbai:
Nykaa has expanded into the men’s innerwear and athleisure category with Gloot. With the new brand, Nykaa Fashion aims to redefine an ignored space when it comes to men’s requirements by combining comfort and technology in a way that is kind to the planet.
With Gloot, Nykaa has infused technology into innerwear and casual wear which results in ultimate comfort for men. Gloot is a highly intelligent tech creation and a premium brand where comfort and technology come together ensuring that men are able to make a seamless transition from home to work to the gym.
Nykaa Fashion is the multi-brand e-commerce fashion offering from Nykaa with SKUs across women, men, kids, luxe, and home categories. Shares of FSN E-Commerce Ventures, the parent company of Nykaa, fell nearly 37 percent since its listing in November last year, amid the broader market mayhem.
FSN E-Commerce reported a decline of about 57 percent in its consolidated profit for the fourth quarter ended March 2022 mainly on account of new investments. Revenue from operations of Nykaa increased 31 percent during the reported quarter.
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