India-based beauty and fashion e-commerce platform Nykaa, operated by FSN E-Commerce Ventures, saw its share price rise over 2% on the National Stock Exchange after releasing a strong Q1 FY26 business update. The company expects consolidated net revenue to grow in the lower end of the mid-20% range, while GMV growth across its beauty and fashion verticals is expected to exceed mid-20%.
In India, the share price of FSN E-Commerce Ventures, the parent company of beauty and fashion retailer Nykaa, surged by 2.34% to ₹202.87 per share during trading on the National Stock Exchange on July 7. The Mumbai, Maharashtra-based company saw positive investor sentiment after releasing a robust Q1 FY26 business update.
Nykaa, one of India’s leading multi-brand beauty and fashion platforms, reported that it had a strong start to FY26. The company expects its consolidated net revenue for Q1 to grow at the lower end of the mid-20% range, while Gross Merchandise Value (GMV) is projected to exceed that range.
The company’s beauty vertical is expected to deliver GMV growth in the higher mid-twenties, despite disruptions from geopolitical tensions that impacted consumer sentiment during the quarter’s flagship sale event. The growth was driven by strong performance across e-commerce, retail stores, eB2B distribution, and the in-house “House of Nykaa” brands.
In an exchange filing dated July 6, FSN E-Commerce Ventures stated that its beauty business’ net revenue is expected to grow in the mid-twenties, similar to past quarters. The performance of home-grown and acquired brands under the Nykaa umbrella also contributed significantly to the company’s growth.
The fashion vertical of Nykaa is also expected to show GMV growth in the mid-twenties, reflecting a strong improvement over prior quarters. This has been attributed to better traction on its core platform, an expanded product assortment, and robust customer acquisition.
Nykaa’s stock has delivered significant returns over the past year, climbing 18% in the last six months and gaining 14.47% over a one-year period.
With consistent performance across its segments and strategic expansion, Nykaa continues to maintain investor confidence and assert its position as a dominant force in India’s online beauty and fashion retail market.
