The Indian online marketplace Nykaa has experienced exponential growth since 2018. Starting with a revenue of only a little more than billion Indian rupees, the yearly revenue amounted to almost ** billion rupees in the fiscal year 2025.Â
The Indian beauty industry
The Indian beauty industry is a significantly expanding market. This expansion went hand in hand with an increase in the per capita spending on beauty and personal care products. Despite its potential in an ever-growing e-commerce industry, the beauty market accounted for only a marginal share of online sales.
Filling the online beauty product niche
With the foundation of Nykaa in 2012, entrepreneur Falguni Nayar attempted to conquer the beauty market by filling the niche of online sellers for beauty products. Considering the high influence of online sources such as online videos and social media on the beauty behavior of women, the online market appeared promising. Addressing the problem of availability and fake products in tier 2 and 3 cities, Nykaa faced less competition compared to marketplaces like Amazon or Flipkart, and focused more on other segments. Nykaa covered a wide price range from luxury products to mass products, but its main source of revenue was the sale of make-up.
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Nykaa. (August 12, 2025). Revenue of Nykaa E- Retail Private Limited from financial year 2018 to 2025 (in billion Indian rupees) [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved July 20, 2026, from /statistics/1053514/nykaa-revenue/
Nykaa. "Revenue of Nykaa E- Retail Private Limited from financial year 2018 to 2025 (in billion Indian rupees) ." Chart. August 12, 2025. ÌÇÐÄÆƽâ°æ. Accessed July 20, 2026. /statistics/1053514/nykaa-revenue/
Nykaa. (2025). Revenue of Nykaa E- Retail Private Limited from financial year 2018 to 2025 (in billion Indian rupees) . ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: July 20, 2026. /statistics/1053514/nykaa-revenue/
Nykaa. "Revenue of Nykaa E- Retail Private Limited from Financial Year 2018 to 2025 (in Billion Indian Rupees) ." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 12 Aug 2025, /statistics/1053514/nykaa-revenue/
Nykaa, Revenue of Nykaa E- Retail Private Limited from financial year 2018 to 2025 (in billion Indian rupees) ÌÇÐÄÆƽâ°æ, /statistics/1053514/nykaa-revenue/ (last visited July 20, 2026)
Revenue of Nykaa E- Retail Private Limited from financial year 2018 to 2025 (in billion Indian rupees) [Graph], Nykaa, August 12, 2025. [Online]. Available: /statistics/1053514/nykaa-revenue/
