Nykaa unveils FY30 growth roadmap with USD 5B gross merchandise value target
Founder and executive chairperson Falguni Nayar stated that the ambition is to create a USD 5 billion-plus beauty and lifestyle business by FY30, driven by customer obsession, innovation, and operational excellence.
INDIA – Nykaa has unveiled a five-year growth roadmap targeting more than USD 5 billion in gross merchandise value (GMV) by fiscal year 2030, with the strategy centred on driving omnichannel expansion and portfolio diversification.
At its Annual Investor Day 2026, FSN E-Commerce Ventures Ltd., Nykaa’s parent company, outlined comprehensive financial targets, including a 2-3x increase in revenue, a 4-5x surge in EBITDA, EBITDA margins in the low-to-mid teens, and return on capital employed (ROCE) above 40%.
The USD 5 billion GMV target represents roughly 2.5-3 times Nykaa’s current scale, with the business having already doubled both GMV and revenue over the past three years while maintaining profitability.
The omnichannel expansion strategy focuses on three key offline initiatives: increasing Nykaa’s beauty retail footprint to over 600 stores, reaching 10 crore beauty consumers, and expanding fashion GMV by 3-3.5 times.
This physical retail expansion complements Nykaa’s strong e-commerce presence in beauty and personal care, creating a robust, integrated shopping experience for customers across India.
The portfolio diversification spans four major business verticals, including the core beauty and personal care ecommerce business, significant fashion expansion, private label and private brand development in consumer brands, and a massive B2B expansion targeting reach to 1 million retailers.
Nykaa has identified wellness as the next major growth driver beyond its traditional beauty and fashion offerings, expecting this segment to contribute substantially to achieving the USD 5 billion-plus beauty and lifestyle business target.
The FY30 vision is built on three foundational pillars: AI-led growth for technology-driven operational efficiency, stronger margins through improved profitability, and maintaining profitability while continuing the profitable growth trajectory.
The market response to this announcement demonstrated strong investor confidence, with Nykaa shares jumping 7.1%-8.12% to hit a 52-week high of ₹303.75 (USD 3.64), while the parent company, FSN E-Commerce Ventures, rose 6.76% to ₹300.25 (USD 3.60) on high trading volume, hitting a 4-year high.
The roadmap positions Nykaa to capitalize on India’s expanding beauty, fashion, and wellness markets while strengthening its omnichannel dominance through significant offline retail expansion and B2B network growth, ultimately creating a comprehensive beauty and lifestyle ecosystem serving millions of consumers across the country.
Sign up to receive our email newsletters with the latest news updates and insights from Africa and the World HERE.
