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Fashion News: The parent entity of the multi-brand beauty giant Nykaa, FSN E-Commerce Ventures Limited, emphasized the need for vertical commerce at its Annual General Meeting today. The omni-channel company stated that more than 15 million customers had transacted across its platforms during the last year.
“Today, millions of consumers engage with us a billion times in a year across touch points and across our platforms, said Nykaa’s CEO, managing director, and chairperson Indian Retailer Bureau reported. With the rapidly evolving power of personalization, we are excited about how we will reshape discovery, browsing and shopping journeys – while tailoring for and catering to the specific needs of every individual consumer,” she said.
The 12th AGM the company has held thus far saw Nayar talk positively about growth in Indian fashion and beauty industries. The company reportedly receives around two billion website visits every year and has served more than 33 million customers so far, reporting a 30% market share in the online beauty segment.
“I am a huge believer in vertical e-commerce and both beauty and fashion categories are about building aspiration, driving education, and facilitating the right discovery to drive inspiration and purchase,” said Nayar.
At the AGM, the firm reported that Nykaa continues to increase its offerings of Indian and international brands and now stocks over 6,700 brands across its platforms. The company has also increased its supply chains to count at 44 warehouses across India compared to 18 warehouses in the financial year of 2021. This enhances Nykaa ability to cut its costs of fulfilling orders by 19% and the times taken from order-to-delivery by an average 18%.
