Bengalasu: Nykaa, Online Cosmetics Falguni Nayte and Fashion retailers who will general, say have seen a gradual increase in the value of gross merchandise (GMV) since the pandemic began last year because more people shifted online to buy their products.
The company, which was supported by investors such as TPG and JM Financial Lighthouse, reported GMV $ 199 million in the first fiscal first quarter, more than three times $ 59 million was recorded in the same period last year.
GMV in e-commerce means the total value of goods sold on the platform, including discounts but does not include returns.
GMV consolidation includes the beauty of the company, the personal care business and vertical fashion.
“We quickly spin during a pandemic with the help of Smart and Agile Tech content and AI-LED LEDs and filtered according to customer requirements and from which zones they came from,” said CEO Nargging.
Most of the company’s sales come from Tier-2 and -3 cities.
While 95% of total sales are online, the remaining 80 stores throughout the country.
It is expected to rise to 15% because the shops and footsteps rise together with a recedion of pandemic.
It has 7.1 million customers transactions up to August this fiscal, up from 5.6 million throughout last year.
Nykaa, one of the few beneficial new era companies to be registered, is looking to increase around RS 630 Crore by issuing fresh stocks and the rest through offers for sale.