Results · Commerce & Consumer Brands

Nykaa posts strong Q4 growth, eyes 82°E deal

By Startup Enthusiast · 6 April 2026

What they do

Q4 FY26 net revenue growth in late twenties, highest in past 12 quarters; full-year growth at upper end of mid-twenties

Nykaa is in talks to acquire a majority stake in Deepika Padukone's skincare brand 82°E

Fashion vertical Q4 GMV growth projected in late twenties; beauty vertical NSV growth in late twenties, higher than rest

Nykaa released its Q4 FY26 business update, with consolidated GMV growth expected in the late twenties percentage range.
Net revenue growth in Q4 is expected in the late twenties year-on-year, the highest in the past 12 quarters.
Full FY26 net revenue growth is expected at the upper end of mid-twenties.
NSV (net sales value) growth for full FY26 is expected in the late twenties, up from mid-twenties in the past two years.
The fashion vertical projects Q4 GMV growth in the late twenties and NSV growth in the early forties.
The beauty vertical expects Q4 GMV, NSV and net revenue growth all in the late twenties.
Nykaa is in talks to acquire a majority stake in 82°E, a premium skincare brand founded by Deepika Padukone.
Nykaa confirmed the talks in an exchange filing; the deal hinges on Nykaa's ability to turn the brand around.

The Q4 update shows Nykaa's strongest revenue growth in three years, driven by both beauty and fashion.
The 82°E acquisition would add a celebrity-backed premium brand to Nykaa's portfolio, following past buys like Dot & Key.
The Indian BPC market is valued at $23 billion and expected to cross $40 billion by 2030, offering a large opportunity.
Nykaa's Nike partnership shows it is expanding beyond beauty into full ecommerce operations for global brands.

Nykaa is an online beauty store that sells cosmetics, skincare and beauty products in India.
It also operates a fashion vertical selling apparel and accessories.
The company has 313 stores across India as of end of FY26, adding 26 new stores and 11 Kiehl's store integrations in Q4.
Nykaa handles complete ecommerce operations for Nike in India, including website, app, fulfillment and customer service.
Its House of Nykaa segment continued robust growth.
The company offers discounts like FLAT ₹300 off on orders ₹2000+ to attract customers.

Nykaa plans to acquire a majority stake in 82°E, subject to due diligence and final terms.
The company aims to leverage its 4.2 crore user base to market and turn around the 82°E brand.
Nykaa continues to expand its store network and integrate brands like Kiehl's.