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commonwealth of cricket book review

commonwealth of cricket book review

time:2022-05-20 commonwealth of cricket book review Views:8499

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Cosmetics and fashion platform Nykaa saw a 96% slump in quarterly net profit owing to higher marketing and advertisement expenses. The drop, however, also resulted in a 7.4% fall in shares to Rs2,185. Nykaa reported a consolidated net profit of Rs11.7 million for the September quarter, far below the Rs274.7 million quarterly net profit that the company reported in the same period last year and 69 per cent down compared to the June quarter. On the other hand, the company’s marketing and advertisement expenses rose nearly four times to approximately Rs1.2 billion for the said quarter. Its revenue, however, increased 47 per cent to Rs8.9 billion in the quarter ending September 30 from the year before.

“We have maintained growth momentum in our beauty business, accelerated our fashion business and focused on building the brand Nykaa with strong marketing campaigns,” said Falguni Nayar, Founder & CEO, FSN E-Commerce Ventures (Nykaa).

Headquartered in Mumbai, Nykaa was founded in year 2012.  It was launched as an e-commerce portal curating a range of beauty and wellness products. In 2015, the company expanded from online-only to an omnichannel model and began selling fashion products. In 2018, it launched Nykaa Man, a multi-brand ecommerce store for men’s grooming. Earlier this month, Nykaa made a stellar debut on the Indian stock exchange. The stock started trading at a premium of over 82% at Rs2,054 per share on the NSE as compared to its IPO issue price of Rs1,125 and closed over 10% higher at Rs2,208 per share on its first day on the BSE.

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Fashion retail in India is estimated to be a Rs 3 lakh crore industry today and is projected to grow to 2.5X this size by 2026. This growth is being made possible by the virtuous cycle of increased demand, caused by improved awareness and availability of modern fashion trends and aspirational brands.

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This development, however, had a insignificant impact on the retail fashion business during its initial phases. With consumers no longer required to go to a physical store to buy what they wanted, footfall at physical fashion outlets fell drastically over time. There were certain monetary benefits of opting for e-commerce over physical retail as well; since online sellers did not have to invest capital into establishing and running a physical outlet, they had higher operating margins and could offer the same items at lower prices to their customers. Industry experts predicted the end of retail fashion as we knew it, and hailed the coming of e-commerce as a game-changing development.

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What kind of technological innovations have you initiated in the last one year?

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Besides, the company which has presence in 14 states, will also open two stores in October in Arunachal Pradesh and Meghalaya.

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Inaugurated by renowned actor Yash, this is Lifestyle’s 7th store in Bangalore and 73rd in the country. The newly launched store offers an immersive and advanced shopping experience with curated fashion lines, larger than life digital screens showcasing the latest fashion trends, best-in-class store fixtures and a selection of new brands that offer a retail experience that is both unique and memorable.

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