Digital
Why OpenAI is hiring 100 ex-bankers: Inside the ChatGPT-maker's secret project to automate Wall Street's grunt work
Nykaa launches AI stylist ‘Muse’, aims for 50% AI code by year-end
'An increasing share of our code is now written by AI,' Chairperson Falguni Nayar noted, setting a target of 50% AI-generated code by the end of the year, ahead of industry benchmarks
Nykaa has grown its GMV six-fold in the last few years. Its beauty vertical contributes 75% of sales, while fashion accounts for 25%. (Image sourced from LinkedIn)
Fashion and beauty platform Nykaa is doubling down on artificial intelligence with the launch of Nykaa Muse, an AI-powered personal stylist designed to offer customised recommendations to customers.
At the company’s annual general meeting, Chairperson Falguni Nayar said Nykaa is increasingly integrating AI across operations. “An increasing share of our code is now written by AI,” she noted, setting a target of 50% AI-generated code by the end of the year, ahead of industry benchmarks.
Nayar said Nykaa currently runs more than 40 GenAI initiatives spanning customer experience, product development and operational efficiency. “AI is driving productivity across functions — from service to operations to finance and more,” she added.
Nykaa’s omnichannel model remains central to its strategy. “We believe focus on both online and offline retail is critical for beauty brands and consumers,” Nayar said. Nykaa reported a GMV of ₹15,600 crore in FY25, up 25% year-on-year, with a 42% CAGR over the past five years — outpacing the broader e-commerce market’s 20%.
The company has grown its GMV six-fold in the last few years. Its beauty vertical contributes 75% of sales, while fashion accounts for 25%.
Nykaa has also entered the quick commerce space with “Nykaa Now,” offering 30–120 minute delivery of beauty products in seven major cities.
As of FY25, Nykaa serves 42 million customers, operates 250 stores across 82 cities, and offers over 9,000 brands across beauty and fashion.
Citing a consultancy firm data, Nayar said India’s e-commerce market touched $60 billion in FY25, with beauty and fashion making up 35%. She projected the online market to reach $190 billion by FY30, with beauty and fashion expected to account for 40% of the total.
SPOTLIGHT
From Delhi’s sharp-tongued lyricists to Chennai’s bilingual innovators and North-East India’s experimental beatmakers, Rap 91 LIVE’s lineup was a sonic map of the country’s cultural diversity.
Read MoreEnd of the Old Guard? Publicis outperforms, WPP declines, Havas rises, Omnicom readies IPG merger
As WPP reels from revenue declines and vows sweeping restructuring, Publicis and Havas ride strong AI-led client demand. With Omnicom and IPG on the cusp of a historic merger, the global advertising landscape braces for a power realignment built on data, technology, and efficiency.