Nykaa, the Indian beauty retailer, has seen shares jump an estimated 2.3% in early trading on 5 January after reporting a strong outlook for its Q3 2026 update.
Consolidated gross merchandise value (GMV) and net sales value (NSV) growth are expected to reach the late 20% for the quarter ended December 2025.
The performance reflects consistent strong growth of the retailer’s beauty vertical, which has been supported by newly onboarded brands such as Chanel and Supergoop!.
As a result of the bumper beauty demand, Nykaa is expected to deliver consolidated net revenue growth in the upper end of mid-20%.
A statement from Nykka read: “This stellar growth comes in a seasonally strong quarter, making it the largest quarter [to] date in terms of absolute scale.
“The growth was broad-based across each of Nykaa’s beauty businesses.
“The outperformance of House of Nykaa brands, the success of Pink Friday sale, as well as robust new customer acquisition contributed to the superior performance.”
The anticipated bumper Q3 builds on a strong first half performance in 2025, which saw Nykaa add Armani Beauty, Anua, Aestura, Chantecaille and Paula’s Choice to its assortment of brands.
This supported the Indian beauty retail giant's first quarter 2025 results, which grew to 233.2m rupees ($2.66m).
Bollywood actress Sharvari Wagh was announced as Nykaa’s new brand icon last year, “building a strong connection with Gen Z and millennial audiences” and “deepening the brand’s relevance across campaigns and content”.
In 2024, Rihanna’s Fenty Beauty signed a deal with Nykaa for its debut in India, contrary to reports that the brand founder would be launching with Sephora.