Beauty and fashion giant Nykaa’s parent company FSN E-Commerce Ventures has predicted that it will see between 22% and 23% year-on-year consolidated revenue growth in the first quarter of the 2025 financial year for both its beauty vertical and the consolidated entity.
“Nykaa – FSN E-Commerce Ventures Limited along with its subsidiaries, that is the consolidated entity expects its revenue growth to be around 22-23% YoY in Q1 FY2025,” announced the business in a filing on the Bombay Stock Exchange, the Press Trust of India reported. “GMV [gross merchandise value] growth is expected to be higher, in the high twenties YoY, in line with long-term BPC (Beauty and Personal Care) industry growth-trajectory. This is despite relatively slower growth in our physical retail business which was impacted by elections as well as heatwaves across North India.”
The business reported lower levels of demand in its fashion segment compared to its beauty segment. From this quarter, FSN E-Commerce Ventures has announced that it plans to begin reporting its financial performance for each of its segments, India Retailing reported.
“The overall fashion industry in India continues to face challenges with a muted demand environment,” said the business. “The growth was further impacted in this seasonally weak quarter due to limited weddings and festivities.”
FSN E-Commerce Ventures expects its fashion vertical revenue to report approximately 20% year-on-year revenue growth. The business expects GMV growth for its fashion segment to hover around the mid-teens.
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