Nykaa Fashion in-house brands cross Rs 2,100 cr GMV as FY26 profit climbs
Nykaa Fashion posts robust FY25 growth with private labels topping Rs 2,100 crore GMV and rising FY26 quarterly profit. The platform expands into men's, kids and home, onboards H&M in November, and reappoints Adwaita Nayar as Executive Director, while Reliance's Ajio Rush escalates rivalry with Myntra.
What happened
Nykaa Fashion reports robust growth and rising FY26 profit, expanding into men's, kids, home. In-house brands crossed Rs 2,100 cr GMV; H&M launches on platform
Key facts
- Rs 2,100 crore GMV FY25
- FY26 quarter profit increase
Why this matters
The H&M onboarding and Adwaita Nayar's reappointment as Executive Director point to a partnership-led platform strategy worth tracking for further brand-licensing or marketplace tie-up opportunities.
What to watch
- FY26 quarterly fashion EBITDA margin trajectory
- H&M sell-through and traffic uplift post-November launch
- Ajio Rush / Myntra delivery-speed and discount escalation
- Private-label GMV share vs total fashion GMV
- Customer acquisition cost and repeat-purchase rates in fashion segment
- Push private-label penetration above 12-15% of fashion GMV to defend margins against marketplace discounting
- Use H&M as anchor to onboard further global brands and broaden the fashion catalog
- Invest in faster fulfillment to counter Ajio Rush and Myntra M-Now speed plays
- Cross-sell beauty-to-fashion customer base to lower blended CAC
- Expand men's, kids and home assortment to widen TAM and basket size