Milestone · Commerce & Consumer Brands

Nykaa sets $5 billion GMV target for FY30

By Startup Enthusiast · 29 June 2026

What they do

Nykaa is an online beauty retailer that has evolved into a beauty and lifestyle platform

At its investor day, founder Falguni Nayar presented a five-year vision targeting $5 billion GMV and 2.5-3X revenue growth by FY30

The company aims to build India's L'Oréal or Estée Lauder, with owned brands like Dot & Key and Kay Beauty as key growth engines

Nykaa held an investor day where founder and CEO Falguni Nayar presented the company's FY30 vision, five years ahead.
The company set a GMV target of over $5 billion for FY30.
It aims to grow revenue 2.5-3 times from current levels by FY30.
It targets EBITDA expansion of 4-5 times from current levels by FY30.
The ROCE target for FY30 is over 40%.
Nykaa's stock touched a 52-week high of ₹309.7 following the announcement.
Nykaa aims to build India's L'Oréal or Estée Lauder, per Falguni Nayar.

Nykaa's growth engines include beauty (profit driver), fashion (approaching profitability), owned brands, advertising, omnichannel retail, and AI-led personalisation.
Nykaa Fashion holds a market share below 5% as per industry estimates but is growing at roughly 40%.
Nykaa Fashion targets net sales value growth of more than 3 times over the next five years and a high single-digit EBITDA margin.
Nykaa Fashion's strategy is to move away from mass-market and own the premium segment.
Nykaa's owned brands portfolio includes Dot & Key, Kay Beauty, Nykaa Cosmetics, RSVP, and Twenty Dresses.

Nykaa is an online beauty retailer that has evolved into a beauty and lifestyle platform.
Its growth engines are beauty (profit driver), fashion (approaching profitability), owned brands, advertising, omnichannel retail, and AI-led personalisation.
Nykaa's owned brands portfolio includes Dot & Key, Kay Beauty, Nykaa Cosmetics, RSVP, and Twenty Dresses.
Dot & Key is Nykaa's biggest owned brand success, grown via product innovation, influencer marketing, and offline distribution.
Nykaa Fashion's strategy is to move away from mass-market and own the premium segment.
Nykaa Fashion's net sales value target is to grow more than 3 times over the next five years.
Nykaa Fashion's EBITDA margin target is high single-digit.
Nykaa Fashion's required CAGR to meet the FY30 target is roughly 30-35% annually.

Nykaa aims to build India's L'Oréal or Estée Lauder.
Nykaa Fashion targets net sales value growth of more than 3 times over the next five years.
Nykaa Fashion targets a high single-digit EBITDA margin.
Nykaa's owned brands target NSV of more than ₹5,000 Cr by FY30.