Global Mergers, Local Ripples: Consolidations reshape India's ad land as clients seek 'single-window' partners

We will continue acquisition-led strategy in India: Havas Chairman and CEO Yannick Bolloré

Consolidation or Collision? How ad land’s mergers create crisis of overlapping of leadership roles

Meta’s policy shift could spark 30% surge in RMG ad spending in India

Digital Entertainment Summit 2025 to debut in Delhi as India stakes its claim on the future of global media

Nobody’s Perfect Retro Porsche Ad

In Conversation With Raja Rajamannar, Mastercard

Shahid Kapoor And Varun Ganjoo Speaks On PokerBaazi's Campaign

In conversation with IHCL’s Puneet Chhatwal & GroupM’s Kate Scott-Dawkins

Why are brands including e-sports in their sports marketing itinerary?

Storyboard18 x The English Nut: How to pronounce these 10 brand names

Experts' Take On Reinvention Of Ad Campaigns Through Technology

Experts Speak On Key Emerging Trends In Cannes Lions Entries

Leaders of the future have to be outstanding human beings: Nestle MD

In conversation with VMLY&R’s Hari Ramanathan

Tata Group’s retail enterprise Trent Limited has slashed its stake in Spanish fashion brands Zara and Massimo Dutti in India, according to the annual report.

Trent has two separate joint ventures with the Spanish fashion brands. Zara is managed by a JV called Inditex Trent Retail India Pvt ltd (ITRIPL), a collaboration between Spain's Inditex and Tata Group's retail arm Trent Ltd while premium brand Massimo Dutti operates under Massimo Dutti India Private Limited (MDIPL).

According to Trent's annual report, the Tata enterprise has pared its stake in ITRIPL from 49% to 34.94% by selling 1,40,000 equity shares through a buyback offer. On the other hand, it slashed stakes in MDIPL from 49% to 20% by selling 1,75,450 equity shares to Grupo Massimo Dutti, Spain.

<a href="https://www.storyboard18.com/brand-makers/tatas-trent-accelerates-retail-expansions-adds-over-280-stores-for-westside-zudio-in-fy25-69970.htm">Tata's Trent accelerates retail expansions, adds over 280 stores for Westside, Zudio in FY25</a>

Zara India reported a flat growth in its sales in fiscal year 2025. However, the fashion brand reported a 23% rise in profit in FY25. According to Trent's annual report, the Zara entity recorded revenues of Rs 2,782 crore in FY25 compared to Rs 2,771 crore in FY24. The company's profit stood at Rs 243.84 crore in the same duration.

The total income of ITRIPL surged to Rs 2,839.50 crore as against its previous financial year’s total income of Rs 2,776.67 crore and total comprehensive income stood at Rs 299.47 crore as against its previous financial year’s total comprehensive income of Rs 243.56 crore.

Meanwhile, Spanish premium brand Massimo Dutti's India chain clocked a revenue of Rs 100 crore in FY25 compared to Rs 101 crore in the previous fiscal year. 

The entity for Zara currently operates 22 stores across 13 cities while Massimo Dutti operates 3 stores in India.

The total income of MDIPL increased to Rs 101.23 crore while comprehensive income stood at Rs 10.19 crore in FY25.

<a href="https://www.storyboard18.com/brand-marketing/tatas-trent-reports-128-52-decline-in-consolidated-profit-in-q4-fy25-63736.htm">Tata's Trent reports 56.24% decline in consolidated profit in Q4 FY25</a>

India's fashion and lifestyle sector is undergoing a transformative phase, propelled by digitalization, evolving consumer preferences, and increased global access and exposure. The market, valued at Rs 13 lakh crore in 2025, is projected to reach Rs 18 lakh crore by 2028, growing at a CAGR of 10–12%.

Trent has maintained that its partnership with Inditex is not a long-term strategic bet but is purely financial in nature. The Trent-Inditex JV was established in 2009 to launch Zara in India. Originally, Trent had a 49% stake in the lifestyle brand while Inditex had a 51% stake.

Trent Ltd is aggressively expanding physical stores of in-house lifestyle concepts- Zudio and Westside. The retail company opened more than 280 stores in Zudio and Westside combined in the fiscal year 2025.

As of March 2025, Zudio had 765 stores across 235 cities while Westside's store count has climbed to 248.

Tata's Trent pours out stake in Zara India, Massimo Dutti to boost own retail brands

Trent Limited, a Tata Enterprise, heavily capitalized on its physical stores for fashion and lifestyle concepts and Zudio in the fiscal year 2025.

According to Trent's annual report, Westside added 40 new stores and consolidated 24 stores between April 20240-March 2025, bringing the total store count to 248 as of March 31. The total investment in a new Westside store leased and operated by the company was between Rs 8-9 crore across capital expenditure, deposits, and inventory.

While leveraging its offline store, Westside also boosted its online audience through its website, as well as, Tata Group-owned e-commerce platforms such as Tata CLiQ and Tata Neu. According to the annual report, online channels contributed around 6% to Westside's revenues in FY2025.

Westside's annual subscription programme, WestStyleClub, significantly aided its online revenue growth. The club, whose member base increased by 38% year-o-year to 16.4 million, accounted for 90% growth in Westside's online revenue share.   

<a href="https://www.storyboard18.com/brand-marketing/tatas-trent-reports-128-52-decline-in-consolidated-profit-in-q4-fy25-63736.htm">Tata’s Trent reports 56.24% decline in consolidated profit in Q4 FY25</a>

In contrast, Zudio added 244 new stores and consolidated 24, with a store footprint of around 7,000-12,000 sq. ft in FY25. As of March 2025, Zudio had 765 stores across 235 cities, including stores co-located with Trent's food and grocery space called Star. Trent Ltd employed capital for a new Zudio store between Rs 3-4 crore in FY25.


In FY25, Zudio crossed a billion dollars in sales with lifestyle, and non-apparel accounting for over 20% of the revenues. Zudio growth was backed by brand-building visibility by expanding its presence in micro-markets, instead of heavy discounting and heavy marketing spending. The report mentioned that the lifestyle-to-grocery retail chain has stayed away from discounting and avoided active marketing spending. "We instead focus on being accessible and building a critical mass of presence to drive awareness".

<a href="https://www.storyboard18.com/brand-makers/nykaa-bets-big-on-body-care-fragrances-offline-sales-gain-momentum-62549.htm">Nykaa bets big on body care, fragrances; Offline sales gain momentum</a>

"Both Westside and Zudio now operate at scale and are witnessing strong volume-led growth across diverse categories. Operating from over 1,000 large-format fashion stores, we have engaged with more than 100 million customers," P. Venkatesalu, Trent's Managing Director said.

Overall Tata's Trent clocked a profit of Rs 1,534.41 crore in fiscal year 2025 compared to Rs 1,477.46 crore in FY24. Trent increased its advertisement and sales promotion expenditure by 44% to Rs 126.76 crore in FY25. 

Tata's Trent accelerates retail expansions, adds over 280 stores for Westside, Zudio in FY25

As India’s quick commerce industry surges ahead, driven by a digitally connected population and a mounting appetite for speed and convenience, a growing chorus of concern is beginning to cloud its glossy ascent. At the heart of the controversy: troubling lapses in food safety standards.

<a href="https://www.storyboard18.com/how-it-works/gig-worker-attrition-hits-e-comm-quickcomm-platforms-31-of-employers-lament-voluntary-exits-67892.htm">Quick commerce faces high attrition challenge of gig workforce: TeamLease</a>

In a high-profile regulatory crackdown, the Food and Drug Administration (FDA) of Maharashtra suspended operations at several “dark stores” run by leading platforms Zepto and Blinkit, citing poor hygienic conditions, substandard cold storage monitoring, and staff operating without protective gear. The action comes amid a broader investigation into safety violations across the industry’s rapidly expanding network of fulfillment hubs.

What began as isolated complaints is now snowballing into a reputational crisis for the sector, raising urgent questions about the cost of India’s delivery revolution.

“This is not just a blip—it’s a systemic failure,” said Mohit Hira, co-founder of Myriad Communications and venture partner at YourNest. “Quick commerce platforms are leveraging tech to scale at speed, but in doing so, many are circumventing basic food safety norms. In a hyper-connected world, one violation can spark a trust deficit that’s hard to reverse.”

Indeed, violations are stacking up. Last year, the Food Safety and Standards Authority of India (FSSAI) issued warnings to state regulators over the sale of near-expiry products via quick commerce platforms. Unscheduled national inspections may follow as regulatory scrutiny deepens.

Consumers have begun voicing frustrations online. In one widely shared LinkedIn post, Hyundai Motor India’s Lalit Devnani recounted receiving an expired ice cream tub from Zepto. The company refunded the product, but did not reimburse taxes and handling fees, he noted. Meanwhile, Bharat Jain, a principal at EFESO Management Consultants, detailed receiving expired dosa batter not once, but thrice, from Swiggy Instamart. “They acknowledged it. They apologized. They even replaced it. But the problem keeps recurring,” he said.

<a href="https://www.storyboard18.com/how-it-works/quick-commerce-disrupts-indias-grocery-industry-kirana-stores-hit-hard-kearney-68991.htm">Quick commerce disrupts India's grocery industry, kirana stores hit hard: Kearney</a>

Such incidents have emboldened critics who say the industry is trading consumer safety for operational speed. “Brands are definitely prioritising convenience and profit over food safety,” said Saurabh Parmar, Fractional Chief Growth Officer said. “I don't think it comes from a deliberate effort to undermine food safety, but just that it's such a competitive space, government regulations for dark stores are not clearly defined," he added.

The numbers underscore the sector’s explosive growth. Quick commerce companies in India operated approximately 1,800 dark stores in FY24. That figure is projected to triple to 5,500 by FY26, according to HSBC Global Research.

But scale may be outpacing oversight.

A recent complaint by a Shiprocket employee exposed price inconsistencies on Blinkit, where the same product listed at different maximum retail prices depending on the user’s location. Blinkit attributed the issue to a technical glitch under investigation.

Further complicating the picture, the All India Consumer Products Distributors Federation (AICPDF) has alleged that some platforms are dumping near-expiry or slow-moving inventory through deep discounting tactics. The Competition Commission of India has requested formal evidence.

Brand experts say these developments risk eroding the very foundation on which quick commerce rests: consumer trust.

“Quick commerce brands are chasing quick turnover, but in doing so, they may be taking shortcuts that are anything but clean,” said Harish Bijoor, a business and brand strategy specialist. “Food safety isn’t optional—it’s existential.”

Recent industry reports signal massive upside. A Chryseum study projects India’s quick commerce market will triple in value from $3.34 billion in 2024 to nearly $10 billion by 2029. Kearney research shows food and household staples are leading categories in the shift to app-based commerce. But when it comes to fresh produce, a number of consumers interviewed by Storyboard18 report abandoning the category entirely, citing “rotten” or “spoiled” items.

Parmar believes rebuilding trust requires not just operational fixes but better communication. “What I'm surprised by is that none of these major businesses have a crisis communication team which takes a more immediate view when a concern like this arises, both from not just from a strategic perspective, but more from a communication perspective".

As the quick commerce sector matures, experts warn that the road ahead must balance speed with safety. If not, a race to the consumer’s doorstep may end in a reputational dead-end.

“In business, the one intangible that makes or breaks a brand is trust,” said Hira. “Lose that, and you’ve lost the market.”

<a href="https://www.storyboard18.com/brand-marketing/inside-quick-commerce-brand-wars-smear-tactics-platform-fights-and-founder-feuds-67962.htm%20..%20This%20story%20has%20my%20quote">Inside quick commerce brand wars: Smear tactics, platform fights and founder feuds</a>



Quick commerce boom faces backlash over food safety failures

Rohit Talwar, Vice President and Head of Marketing at Castrol India, has tendered his resignation, effective August 8, 2025. The announcement marks the end of a long and impactful tenure for Talwar at the lubricant manufacturing giant.

Talwar was appointed to the role on November 1, 2023, succeeding Jaya Jamrani, who had taken a one-year sabbatical. During his time as Head of Marketing, Talwar was credited with shaping and executing strategies aimed at driving growth and delivering enhanced value to both customers and shareholders.

His association with Castrol India began in 2004 when he joined the company as a Management Trainee. Over the next two decades, Talwar held several key positions including Sales Manager, Bikes Brand Manager, and Cricket Sponsorship Activation Manager. He also served as the Global Brand Manager in the Commercial Vehicles Category, where he played an instrumental role in launching the internationally recognized Castrol VECTON brand.

In 2017, Talwar returned to Castrol India and assumed senior roles such as Head of Brand and Communication, and later Deputy Vice President of Marketing. Since 2019, he has been spearheading marketing efforts for Castrol Vietnam, where he successfully led both B2C and B2B campaigns, driving innovation and business growth across the region.

Rohit Talwar steps down as Castrol India VP and Head of Marketing

In a major development following the tragic stampede during Royal Challengers Bengaluru's (RCB) victory celebrations on June 4, the Bengaluru police on Friday arrested Nikhil Sosale, the marketing head and revenue of RCB from Diageo India. The stampede, which occurred outside the M Chinnaswamy Stadium, claimed 11 lives and left 64 others injured.

Sosale, who according to his LinkedIn profile leads the design, strategy, and business delivery for RCB's marketing program, was arrested after mounting pressure from the Karnataka government. He also worked at United Breweries overlooking its sports marketing business. His close social connections to celebrities such as Virat Kohli and Anushka Sharma—both of whom follow his private Instagram account—have also drawn public attention.

The arrest follows Chief Minister Siddaramaiah’s directive on Thursday to take stringent action against RCB, the event organiser DNA Entertainment Networks Pvt. Ltd., and the Karnataka State Cricket Association (KSCA). The FIR, registered by a police inspector at the Cubbon Park station, invoked serious charges under the Bharatiya Nyaya Sanhita under sections 115 (Voluntarily causing hurt), 118 (Causing hurt or grievous hurt using dangerous means),121(Deterring a public servant from duty), 190 (Unlawful assembly)

Police also detained three staff members of DNA Entertainment Networks for questioning. Meanwhile, key KSCA officials, including its secretary and treasurer, are reported to be absconding.

Bengaluru police claimed that RCB’s management had not coordinated with the police prior to announcing their victory parade on social media. Their tweet—promoting the celebration—went viral, garnering over a million views. It was only after the post gained traction that RCB approached the police for formal permission, which was denied due to crowd safety concerns. Despite the refusal, the event drew a massive crowd, overwhelming arrangements and resulting in chaos.

In the wake of the incident, the Karnataka government suspended top police officials, including Bengaluru Police Commissioner B Dayananda, citing serious lapses in crowd management and public safety. The administration’s handling of the incident has come under severe criticism, with opposition leaders from the BJP calling for the resignation of both Chief Minister Siddaramaiah and Deputy CM DK Shivakumar.

To probe the circumstances surrounding the stampede, the state government has constituted a one-man judicial commission led by retired Karnataka High Court judge Justice Michael D’Cunha. The commission has been asked to submit its findings within 30 days.

Meanwhile, RCB announced on Thursday that it would provide financial assistance to the families of all 11 victims and support 33 injured individuals through a newly established relief fund titled ‘RCB Cares.’

RCB marketing head Nikhil Sosale arrested over Bengaluru stampede tragedy

Fast-fashion retailer Shein has been hit with complaints from the European Union's consumer group over dark patterns. According to a report by Reuters, the pan-European consumer organization BEUC has alleged that Shein is using different tactics to make people buy more on its website and application.

In the complaint, BEUC said several pop-ups urge customers not to leave the app or risk losing promotions. The shopping platform also showcases countdown timers to create pressure to complete the purchases. Further, BEUC said that Shein sent 12 notifications from the app in a single day.

BEUC director general Agustin Reyna said, "For us, to be satisfactory they need to get rid of these dark patterns, but the question is whether they will have enough incentive to do so, knowing the potential impact it can have on the volume of purchases".

Shein responded by saying that it is working constructively with national consumer authorities and the EU Commission to demonstrate its commitment to complying with EU laws and regulations.

<a href="https://www.storyboard18.com/how-it-works/govt-directs-all-e-comm-firms-to-self-audit-and-remove-dark-patterns-67759.htm">Govt directs all e-comm firms to self-audit and remove dark patterns</a>

The EU's consumer organization noted that mass-market clothing retailers were widely using dark patterns and urged for strict scrutiny against such measures.

Notably, 25 BEUC member organizations in 21 countries, including, France, Germany, Spain, etc have joined in the grievance filed with the EU and European consumer protection network.

Last month, the European Commission warned Shein to stop breaching consumer law else it would face fines. 

<a href="https://www.storyboard18.com/how-it-works/dark-patterns-explained-the-digital-design-tactics-misleading-millions-68150.htm">Dark Patterns, Explained: The digital design tactics misleading millions</a>

The term “dark patterns” was first coined in 2010 by British UX specialist Harry Brignull to describe interface designs that deliberately steer users toward decisions they might not otherwise make—such as signing up for unwanted services or revealing personal information. In 2023, India officially recognized 13 types of dark patterns as unfair trade practices under the Consumer Protection Act, 2019. Offenders can face fines of up to Rs 20 lakh and imprisonment of up to six months.

Shein hit with EU complaint over dark patterns in app, website

Sula Vineyard has increased its selling, distribution, and marketing expenses by 34.6% in the fiscal year 2025 amid the slowdown in urban consumption, and multiple temporary regulatory and market disruptions.

"FY25 was a year of reset, as the industry growth saw a temporary pause given the impact from the urban consumption slowdown and the temporary market disruptions we saw through the year in the form of the national elections, multiple state elections especially in our largest state of Maharashtra in Q3, and other short-term regulatory / policy disruptions in some states such as Karnataka, Delhi, and Uttar Pradesh which also hurt industry demand albeit temporarily in FY25," said Rajeev Samant, MD and CEO of Sula Vineyard.

The maker of brands like Rasa, Dindori, and The Source wines, spent a total of Rs 91.07 crore on sales, promotion, and marketing in FY2025 compared to Rs 67.64 crore in the year-ago period. The company's sales and promotion expenses stood at Rs 60.39 crore in FY25 while the marketing expenses climbed by 177.7% to Rs 20.75 crore in the same period. Sula spent Rs 7.47 crore on marketing in the year-ago period. 

The wine producer made a splash in FY25 with notable marketing initiatives, including the revival of the 'SulaFest' after a gap of five years and a partnership with IndiGo to offer premium canned wines to travelers on international flights. Besides, the Nashik-based company conducted 77,887 tastings across 51 cities in FY25 to strengthen consumer engagement and improve brand visibility across key touchpoints. 


In the past four years, the company's Own Brand sales have grown at 17% CAGR. The share of Own Brands increased to 88% in FY25 from 69% in FY21, while the revenue increased to Rs 546.2 crore in FY25 compared to Rs 534.2 crore in FY24.

In FY25, Sula's wine tourism revenue grew by 10.2% year-on-year to Rs 60.3 crore, driven by SulaFest, coupled with resort performance. The wine-making company said that its resort occupancy improved by from 74% in FY24 to 78% in FY25 on the back of a strong festive and wedding season in FY25.

"Our Wine Tourism business continued to grow from strength to strength in FY25 recording another year of solid double-digit growth. Over the last 4 years (FY21-FY25), our wine tourism business has grown rapidly at 35% CAGR," Samant added.

Sula, which offers more than 50 brands of wines across different price points and varietals, will be focusing on its expansion strategy in the ongoing fiscal 2026.

According to CEO Samant, "We will work on the expansion plans in its Own Brands and Wine Tourism businesses in FY2026". Further, he mentioned capitalizing on the thriving Wine tourism to boost the brand visibility. 

Sula Vineyards' marketing expenses surge by 177.7% to Rs 20.75 crore in FY25

Asian Paints made a marginal cut in advertising and promotional expenditure in the fiscal year 2025 to balance between the 'challenging' market and 'heightened competition'.

Asian Paints Managing Director and CEO, Amit Syngle said the entire coating industry was hit due to tepid consumer sentiments in FY25. Consequently, the paint giant cut its ads and promotional expenses by 0.68% to Rs 1,296.97 crore in FY25. However, with intensified competition due to the entry of new players and increased aggression
from existing ones, Asian Paints also elevated distributional and promotional spending, putting strain on value realisation and profitability across segments.

Asian Paints' profit and revenue dropped significantly in fiscal year 2025. The company clocked a profit of Rs 3,585 crore in FY25--down 35% year-on-year. Whereas, the revenue from sales declined from Rs 31,093 crore in FY24 to Rs 29,421 crore in FY2025.

"The year saw further tapering of demand, continuing from a similar trend in the previous year. As a result, the coatings industry recorded a revenue decline, ranging from low single-digit degrowth to a flat performance for the year," Syngle said.

<a href="https://www.storyboard18.com/brand-marketing/nestle-india-cuts-ad-spend-to-rs965-86-crore-in-fy25-but-doubles-down-on-brand-building-68673.htm">Read more: Nestlé India cuts ad spend to Rs965.86 crore in FY25, but doubles down on brand building</a>


Additionally, the slowdown in the construction sector and limited government spending on infrastructure affected the cement and steel industries, along with the coating industry.

"We witnessed consumers deferring spending on discretionary segments, including paints. This was further exacerbated by slow down in the construction sector and constrained Government spending on infrastructure affecting the core industries of cement and steel as well," Syngle said in the company's annual report of FY2025. 

Unaffected by the industry sentiments, Asian Paints' marketing efforts were anchored in a cohesive and omnichannel strategy designed to engage audiences across platforms. 

"We ran a cost-efficient customer acquisition campaign across multiple channels in the fiscal year 2025 to improve brand engagement", Syngle added. 

For instance, the MD said that they reinforced 'Har Ghar Kuch Kehta Hai' proposition to drive emotional preferences across all consumer segmentation.

Syngle said that challenges on the external front whether through changing geopolitical terrain, uncertain and volatile macro-economic conditions, or through the emerging competitive landscape will exist forever. However, the company will maintain its focus on strengthening its teams’ capability to address all kinds of challenges.

Asian Paints trims ad spend by 0.68% to Rs 1,297 crore in FY25, amid market challenges

EaseMyTrip.com on Monday announced the launch of its next phase of growth, labeled as EaseMyTrip 2.0, under which it will partner with businesses focused on travel and leisure, providing them with financial and strategic support. According to Chairman & Founder Nishant Pitti, through this strategic pivot, the company aims to invest in high-potential, scalable businesses while expanding its footprint into new and emerging verticals evolving travel and lifestyle needs.

In an exchange filing, the online travel tech platform said that the 2.0 version has been built around the principle of partnership. EaseMyTrip 2.0 will focus on working capital investments, acquiring up to 49% equity in selected businesses, while ensuring that founders retain full operational control.

“We want to back founders who are building exciting businesses and not replace them,” said Pitti. “EaseMyTrip 2.0 is about combining their vision with our platform to create real, lasting scale," he added.

<a href="https://www.storyboard18.com/how-it-works/easemytrip-denies-allegations-linking-founder-to-mahadev-betting-scandal-66719.htm">EaseMyTrip denies allegations linking founder to Mahadev Betting scandal</a>

The sectors targeted for strategic investment cover both core and adjacent areas where EaseMyTrip sees strong growth potential. In the travel domain, the company is looking to partner with businesses involved in domestic and international holidays, religious and spiritual tourism (such as Ayodhya, Kedarnath, and Varanasi), student and education travel, MICE (Meetings, Incentives, Conferences, Exhibitions) and group travel, luxury travel experiences, chartered flights, air ambulance services, and last-mile mobility including airport transfers and intercity cab services.


In addition, EaseMyTrip 2.0 will explore adjacent verticals that complement its core travel business. These include wellness and preventive healthcare services like spas and clinics, financial products linked to travel such as EMI and “pay later” solutions, insurance and travel assistance, airport-related services like lounge access and concierge support, as well as lifestyle and experiential add-ons such as gifting and customized tour packages. 

<a href="https://www.storyboard18.com/brand-makers/easemytrip-founder-flags-security-flaw-in-rival-travel-site-claims-china-link-66078.htm">EaseMyTrip founder flags security flaw in rival travel site, claims China link</a>

Founders who partner with EaseMyTrip 2.0 will receive not only working capital but also access to EaseMyTrip’s customer base, strategic branding and co-marketing opportunities, and comprehensive backend support; all without surrendering operational control, the travel platform said. 

EaseMyTrip has invited early- to mid-stage entrepreneurs to submit their business plans, past financial records, and three-year growth projections.

"EaseMyTrip 2.0 is our commitment to helping India’s most promising businesses scale faster and with our expertise behind them," Pitti said.

EaseMyTrip launches 2.0, targets high-growth travel firms with 49% investment

Beauty and fashion platform Nykaa's parent firm FSN E-Commerce on Friday announced the fourth quarter result for the fiscal year 2025. The company's consolidated profit witnessed a 193% (approx) rise to Rs 20 crore in the quarter ended in March 2025. In FY24, Nykaa registered a profit of Rs 7 crore in the same period. 

In the full fiscal 2025, Nykaa's profit jumped to Rs 72.07 crore compared to Rs 39.74 crore in the year-ago period--an increase of 81.3%--driven by increase in gross merchandise value of Nykaa-owned brands, rise in margins of premium brands and higher ad-income.

The e-commerce platform has also increased its marketing and advertisement expenses by 31% to Rs 244 crore in the March quarter FY25. In the previous fiscal, the company's adex was Rs 186 crore.

The beauty vertical ad spend stood at Rs 157 crore while fashion vertical of Rs 84 crore in Q4FY25.

The marketing expenses of the company accounted for 29.4% of the net sales volume (NSV).

The e-retailer's revenue from operations also witnessed a significant jump in Q4FY25. As per the quarterly filings, Nykaa's Q4FY25 revenue stood at Rs 2,061.76 crore compared to Rs 1,667.l98 crore in Q4FY24.

<a href="https://www.storyboard18.com/brand-marketing/lifestyle-giants-nykaa-myntra-revamp-ad-strategy-print-ads-soar-tv-spends-plunge-in-2024-66887.htm">Lifestyle giants Nykaa, Myntra revamp ad strategy; TV ads spend down</a>

The revenue from the beauty vertical jumped to Rs 1,894.76 crore in the March quarter FY25--a 24.6% increase year-on-year (1,520.21 crore). The company launched a wide range of global beauty brands, partnering with brands such as Yves Saint Laurent, NARS, Kerastase, Eucerin, GHD, Armani Beauty, Supergoop, and Nexxus, amongst others.  

The beauty brands owned by Nykaa generated Gross Merchandise Value (GMV) of Rs 1,700 crore in FY25, with Dot & Key recording a GMV of more than Rs 900 crore alone. Nykaa expanded its stake in the D2C skincare brand from 51% to 90% in FY25.

On the other hand, beauty brand Kay Beauty, co-created by Nykaa and celebrity Katrina Kaif, achieved a GMV of over Rs 240 crore.

<a href="https://www.storyboard18.com/brand-makers/nykaas-beauty-vertical-registers-robust-growth-in-q4-fy25-61607.htm">Nykaa’s beauty vertical registers robust growth in Q4 FY25</a>

The overall Beauty vertical business saw a cumulative customer base grow to more than 34 million--up 28% YoY, the company's filing added.

The fashion segment also saw a 10.7% growth in revenue in the same period at Rs 161 crore in Q4 FY25. For the full year, revenue growth was 19% YoY, aided by higher marketing and service income. The Fashion vertical's revenue surged to Rs 674.69 crore in FY25 compared to Rs 568.30 crore.

MARKETING