Nykaa expands presence with first luxe store in Chennai
INDIA – Nykaa, an Indian beauty retailer, has opened its first-ever luxe store in Chennai at Express Avenue Mall, marking its sixth outlet in the city.
The 2,000-square-foot store aims to elevate brand expression, offer personalized beauty services, and offer a luxury gifting experience.
The store features a curated selection of global and homegrown brands across makeup, skincare, fragrances, and haircare, catering to the growing demand for premium beauty products in India.
Beyond its retail expansion, Nykaa has established a strong portfolio of brands, including Nykaa Cosmetics, Kay Beauty, Nykaa Naturals, and Moi by Nykaa.
The company has also ventured into fashion, with labels such as Nykd by Nykaa, KICA, 20 Dresses, RSVP, and Gajra Gang.
Apart from this luxe store in Chennai, Nykaa has strengthened its presence in New Delhi, Mumbai, Bangalore, Hyderabad, Kolkata, and Pune, with multiple stores across these cities.
Recently, Nykaa reported a 61% increase in profit for the quarter ending December 31, 2024, achieving 261.2 million rupees ($2.99 million).
The growth was driven by a higher demand for premium beauty products and effective marketing investments that helped attract more customers to its platform.
In a move similar to Nykaa, Space NK, a British beauty retailer, is set to open a new flagship store at 214 Oxford Circus, London, after consistently outperforming the market.
This flagship store will span 4,600 square feet and is designed to offer a unique and immersive shopping experience for beauty enthusiasts.
According to CEO Andy Lightfoot, Space NK has seen its active customer base grow to two million, with its market growth exceeding 30%, prompting the decision to open a significant flagship in London’s West End.
The new Space NK store will feature a PlaySpace, a dedicated beauty experience area where customers can explore and experiment with products.
It will also have a Fragrance Bar and dedicated sections for high-demand categories like lip balms and body sprays.
In addition, the store will showcase a curated selection of new and in-demand beauty brands and exclusive product launches available only at Space NK.
The company has plans to open additional stores in Chelmsford, Kent, and Leicester this year.
Space NK offers a range of products, including skincare and cosmetics, from a curated selection of over 130 high-end beauty brands such as Drunk Elephant, Nars, Charlotte Tilbury, and Diptyque.
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