Nykaa's Ambitious New Plan After Hugely-Successful IPO

Nykaa says it is targeting a sub-segment of that sector - the $70 billion beauty, personal care and fashion market.

Cosmetics-to-fashion retailer Nykaa plans to more than triple its brick-and-mortar stores to 300, founder and Chief Executive Falguni Nayar said, significantly building its offline presence in the country.

Ms Nayar declined to give a timeline for the rollout but said the company was targeting 100 cities, adding to the 84 retail outlets it already operates in 40 cities.

"The process of store expansion had slowed down due to (COVID-19) pandemic for a year or so," Ms Nayar said in an interview for the Reuters Next conference broadcast on Wednesday. "But this year we have revived our store rollout."

Though Nykaa largely operates as an e-commerce platform selling everything from global cosmetic brands to jewellery, Ms Nayar said the physical stores, targeting Indian consumers wanting to buy touch-and-feel products, were a critical part of the business.