Nykaa entered the unicorn club with a $1.3 billion investment in 2020. Nykaa is ready to enter many more heights too now. This brand will achieve double-digit growth of 16.39% and reach $2.89 billion by 2026. This Nykaa brand will definitely build its own great corporate empire one day. Both beauty and cosmetic products are offered by Nykaa. Both physical and online shops are there for this brand.
Launch of nykaa :
Falguni Nayar founded this brand in 2012. She graduated from IIM Ahmedabad and worked for 15 years in the banking sector. Several drawbacks were noticed in the cosmetic industry which made her launch this.
Motto of Nykaa :
“Making simple women extraordinary in every aspect”.
Best marketing strategy :
The encompassing model was used by Nykaa to gain popularity. This strategy is trending and has a great reach to targeted audiences. The logo, tagline, and brands as well as the company’s slogan are designed by keeping in mind feminine beauty. Social media marketing, online marketing, and youtube marketing are used by this brand. Online apparel Store, book discussion on Nykaa, and beauty trends and tips are provided by Nykaa. Modern-age trends and influencers collaborate with Nykaa.
Secret of Success :
Add campaigns if this exclusive brand is quite short and also grabs attention. Skip after 5 or 10 seconds options are often avoided by this brand. The YouTube channel just focuses on all parameters of beauty, personal care routines, makeup hacks, and other self-care-related content.
Special initiative :
Direct contact is established between day to day customers through comments and doubts, queries too are answered. This makes a business quite profitable. College fests and events are just sponsored to gain a young customer base.
The business model followed :
Inventory based business model is followed. Products and goods are purchased in bulk from warehouses located in Mumbai, Bangalore, and Delhi. All Nykaa products are sold online or you can buy them in offline stores like Nykaa Luxe, Nykaa On Trend, and Nykaa Kiosks.
Benefits of inventory-based model :
A high amount of profits can be gained and businesses can be made successful at the same time.
Progress in work :
Returns of $324.77 billion were received by Nykaa. This is just an addition of over 38.10% from 2020. Kolkata brand For and the key was taken hold by Nykaa. This is a recent takeover while in the past Pipa. Bella and 20Dresses too were acquired by Nykaa. 5 million active and 15000 registered users are found by Nykaa. Nykd is a new wearable brand after the pandemic. About 70 % of sales are observed by Nykaa. 90% of recovery was also done during the pandemic.
Future steps and plans :
Nayar gas planned to open 180 physical stores in Nykaa by 2024. Big planning too is on the way by this brand and globally connecting the world with Nykaa is a vision.
Take a risk, begin your own brand with your choice, and reach great heights!!!!!!!