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26th October 2021, Mumbai:
Nykaa, a highly valued start-up led by a women entrepreneur 'Falguni Nayar-founded' online cosmetics and fashion retailer which is underway to going public, making a profit for a change is well-backed by marquee investors viz TPG Growth Lighthouse Ventures & JM Financial, has reported an impressive GMV of $199 million in Q1FY22, more 3x it recorded $59 million in the corresponding period yesteryear.
Just for the information, "GMV in e-commerce would indicate the worth of whole items bought on a platform, together with reductions/ discounts/ rebates though excluding returns.
Over here it is interesting to mention that consolidated GMV fundamentally covers the corporate’s magnificence, private care enterprise, and style vertical just to broadly explain the state of existing affairs.
GMV pie goes like this," A big chunk of the start up’s gross sales are interestingly from tier-2 and -3 cities. However it is vital to state that 95% of the entire gross sales are out of digital presence, the rest portion is from the physical 80 shops nationwide proving a successful omnichannel approach corporate has undertaken through its course".
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