Nykaa's Falguni Nayar sees India as a growth engine, hints at wellness expansion

Falguni Nayar, the founder and CEO of Nykaa, discussed India's potential for growth and innovation. In a recent address at the CNBCTV18 Global Leadership Summit, she emphasized the nation's significant role in Nykaa's future plans. She hinted at Nykaa's future expansion into the wellness segment, recognizing its potential as a long-term, sustainable business.

Nayar revealed that Nykaa is considering a strategic expansion into the wellness segment, recognizing its potential as a long-term, sustainable business. This move aligns with the company's commitment to providing comprehensive solutions to its customers, extending beyond the realms of beauty and fashion.

While Nykaa is actively exploring international markets, particularly in the Gulf Cooperation Council (GCC) region, India remains the core focus of the company's growth strategy. Nayar highlighted the immense opportunities presented by India's burgeoning economy and the increasing consumer demand for high-quality products and services.

She emphasized the importance of understanding and catering to the preferences of Indian consumers, emphasizing that cultural relevance and customer engagement are paramount to success. Nykaa's dedication to bringing innovative, research-driven products to the Indian market is evident in its ongoing efforts to develop private-label brands and explore potential service offerings.

Nayar believes that the next decade will witness significant growth in these sectors, particularly in the beauty industry. While physical retail continues to thrive, the advantages of digital platforms remain compelling, and Nykaa is poised to capitalize on both channels to deliver exceptional customer experiences.