Nykaa Fashion introduces streetwear label

Nykaa Fashion introduces streetwear label

 09 February 2023, Mumbai

Nykaa Fashion is offering consumers a new Gen-Z-focused label called Mixt.

Mixt offers streetwear-inspired modern apparel options such as bodysuits, corsets, jumpsuits, jackets, cardigans, and footwear. Mixt is expected to encourage self-expression.

Mumbai-based retail company Nykaa founded in 2012 sells beauty, wellness, and fashion products across websites, mobile apps, and over 100 offline stores. Fashion and lifestyle platform Nykaa Fashion was launched in 2018 to sell fashion and lifestyle products. The store houses over 1600 brands and over 5.1 million SKUs across five consumer segments: women, men, children, luxe, and home.

For the second quarter Nykaa’s profit rose 344 per cent. The lifestyle retailer’s revenue from operations recorded a 39 per cent increase. During the quarter, the company continued to demonstrate strong GMV growth with improvement in gross margin, efficiency in fulfillment and marketing cost lead to improvement in Ebitda margins. Gross merchandise value rose 45 per cent while the gross margin improved to 45 per cent. Ebitda margin improved to five per cent.

New season merchandise accounted for 24 per cent of Nykaa Fashion GMV; international brands are at 13 per cent of western wear category GMV. Repeat buyers in fashion now contribute 66 per cent of GMV. In the beauty and personal care segment, Nykaa’s GMV grew 39 per cent in the second quarter while margins also improved by 630 bps.

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