FSN E-Commerce, parent of Nykaa, reported steady growth in Q4 FY25, with overall net revenue expected to rise in the low to mid-20% range YoY. The beauty segment outperformed the industry, driven by customer acquisition, strong retail presence, and the success of Nykaa’s in-house and acquired brands. Nykaa added 19 new stores during the quarter.
The fashion segment saw GMV grow in the high teens, but net revenue growth lagged due to underperformance of owned brands and lower content activity. Despite robust Q4 growth, FSN E-Commerce shares fell 2.59% to ₹172.12.