Indian cosmetics brand Nykaa plans to open 300 stores across the country

nykaa plans to open 300 stores across india

FalguniNayar, founder and chief executive of Indian cosmetics fashion retailer Nykaa, plans to triple the brand’s physical stores to 300 in a bid to build its offline presence within the country significantly.

Nayar refused to give a timeline for the opening of the stores. However, she said the company was targeting 100 cities in addition to the 84 retail outlets it already operates in 40 cities.

In an interview with Reuters Next, Nayar said that the process of store expansion was slowed down due to the COVID-19 pandemic, but this year they had their retail store rollout.

Nykaa primarily operates as an e-commerce platform selling everything from jewelry to global cosmetic brands. Nayar said that the physical stores targeting Indian consumers were critical as Indian customers want to buy touch-and-feel products.

Despite the speedy growth of e-commerce and the likes of Flipkart and Amazon.com in India’s nearly $900 billion retail market, most shoppers still prefer to buy products offline. Nykaa has said it targets a sub-segment of the Indian retail market — the nearly $70 billion beauty, fashion, and personal care market.