Nykaa's Bold Vision: Dominating E-commerce with AI and Fashion

Nykaa is set to revolutionize India's e-commerce scene as it eyes capturing 40% of the market share in beauty and fashion categories by FY30. Founder and Executive Chairperson Falguni Nayar highlighted this vision at the company's 13th Annual General Meeting.

Nayar emphasized Nykaa's strategic positioning amid the burgeoning demand for beauty and personal care, with forecasts showing these categories tripling in the coming years. She also stressed the transformative role of artificial intelligence in the company's operational framework, setting an ambitious target of 50% code generation via AI by year-end.

Capitalizing on India's expanding online shopper base, projected to exceed 400 million by 2030, Nykaa positions itself advantageously in a market driven by digital-native Gen Z consumers. The focus remains on curated and discovery-led platforms, where Nykaa aims to maintain a competitive edge.

(With inputs from agencies.)