New Delhi: FSN E-Commerce Ventures, the company that owns Nykaa, predicted a 22-23 percentage increase in consolidated revenue in the first quarter of 2024-25 (FY25), with a similar growth trend expected in the beauty sector but noted a subdued demand in the fashion industry.
In a BSE filing regarding the company's quarterly revenue update for the April-June quarter of FY25, it was stated that the GMV growth for the consolidated entity is expected to be in the mid-20s year-on-year. FSN E-Commerce Ventures announced that it will start reporting segment-wise data vertically, starting from this quarter.
The company, Nykaa - FSN E-Commerce Ventures Limited and its subsidiaries, anticipate a revenue growth of approximately 22-23 per cent Year on Year in the first quarter of fiscal year 2025, as stated by the company. The Beauty vertical is projected to achieve a year-on-year revenue growth of approximately 22-23 per cent in the quarter, matching the overall revenue growth of the consolidated entity.
Anticipated GMV growth is projected to be elevated, in the high twenties year over year, in alignment with the long-term growth trajectory of the Beauty and Personal Care industry. It mentioned that our physical retail business saw slower growth due to elections and heatwaves in North India.
However, the company noted the weak demand environment in the Indian fashion industry. The Indian fashion industry as a whole still struggles with subdued demand conditions. Limited weddings and celebrations in this slow season further affected the growth, as stated by the company.
It was stated that Fashion vertical revenue is anticipated to show strong performance, with a revenue increase of approximately twenty percent year-over-year. The quarter's GMV growth is anticipated to decrease to the mid-teens compared to the previous year. The Beauty sector includes Nykaa, an online beauty platform, and beauty brands owned by the company.
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