Nykaa fashion has entered the offline market by unveiling its first store in Ambience mall in Vasant Kunj, New Delhi on 9 December 2020.
After ruling the online world with its trustworthy, genuine beauty and fashion products, the store aims to build the same now in retail stores. Presently there are 600 brands listed on Nykaa fashions online store.
Adwaita Nayar, CEO of Retail, Nykaa Fashion, mentions, “We have a roadmap for the next couple of months wherein we will be opening 10-15 stores. The reason we are opening in Delhi first is that it’s our biggest market for fashion and beauty. After Delhi, we will move to Mumbai and Bangalore followed by other metros.”
“Fashion is one of the most significant segments for the company and is getting a lot of investment, management, bandwidth, and focus. My vision for fashion is quite large as I want the store to be a lifestyle destination. We will do women, men, kids, a luxury store for designer wear,” Adwaita added.
Currently, the store has all kinds of female fashion materials, the CEO mentions that they will replicate it for other categories – men, kids, home. “In-home, we’ll be away from furniture and larger appliances for now. Home decor is also on the cards.” says CEO of Retail, Adwaita Nayar.
In 2012 Nykaa was first founded by Falguni Nayar. It was launched as an e-commerce portal curating a range of beauty and wellness products. Nykaa now sells about three lakh products across 1,500 brands. The startup launched its first offline store in Delhi in 2015, and a private label in 2015. As of 2020, they have more than 50 stores across India. They are now India’s leading omnichannel retailer.
Retail is all about detail- Falguni Nayar(Founder Of Nykaa)