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| Edited By: Ashish K Tiwari |Source: DNA |Updated: Mar 22, 2018, 02:17 AM IST
Multi-brand e-commerce beauty platform Nykaa is looking to open 30 stores across India by 2020 as part of its omni-channel approach to retailing beauty products. The company, which is targeting revenues of around Rs 350 crore in the current fiscal, has opened its second brick and mortar store at the domestic arrivals section at T2, Chhatrapati Shivaji International Airport, Mumbai.
The company is backed by multiple investors including Marico chairman Harsh Mariwala and Hexaware Technologies chairman Atul Nishar.
Speaking with dna, Nihir Parikh, chief business officer, Nykaa.com, said the company will be investing between Rs 15 crore and 20 crore in setting up the offline stores across the country in the coming years.
"With a path to profitability by 2017, we will begin our last round of funding to raise Rs 100 crore this August. Part of the money raised from this fund will be used to set up the newer stores going forward," he said.
While its first mall store is already operational at Infinity Mall, Andheri, Nykaa will soon be opening another one next month at Infinity Mall, Malad. Work is on for its first store in Bengaluru that will come up at VR Mall in the next few months. Its first brick and mortar store was launched at T3 Terminal, New Delhi in 2015.
The airport stores are small format spread across 150-200 square feet and the mall stores typically occupy between 500 and 600 sq ft of retail real estate.
"We are also working on a large format destination stores that will be spread across 800 to 1,000 sq ft. These will be housed in malls as well as high street locations," said Parekh, adding that the breakeven for their offline stores ranges between 18 to 24 months.
Launched in 2012, Nykaa offers over 450 brands Indian and international brands across make-up, skincare and hair care categories and 40,000 products including those from Lancome, Giorgio Armani, Marc Jacobs, Burberry and Bvlgari among others. The stores also showcase the Nykaa Nail Enamel and Bath & Body private label range of beauty products.
According to earlier media reports the company was targeting to close fiscal 2016 with sales of Rs 80-100 crore and hoping to clock-in a revenue of Rs 240-300 crore by March 2017.
Commenting on the store launch, Falguni Nayar, CEO and founder, Nykaa, said, "The omni-channel route is a logical extension in order to offer our customers a seamless shopping experience. Each piece of the consumer's experience is enhanced by consistently offering products digitally, in-store and through the Nykaa app with innovations like product consultations, exclusive offers, tutorials and much more."
Chinese smartphone manufacturer Zopo has launched its flagship 4G smartphone Zopo Speed 8 in India. The company claims its smartphone is the first to sport MediaTek's deca-core Helio X20 MT6797 SoC. Other highlights of the Zopo Speed 8 include 4GB of RAM, 21-megapixel rear camera powered by a Sony IMX230 sensor with f/2.2 aperture paired with a dual-LED flash, an 8-megapixel camera at the front also with a LED flash module, an f/2.0 aperture, and a OV8856 sensor. The dual-SIM (Nano-SIM card + Nano-SIM card) device runs Android 6.0 Marshmallow, and features a 5.5-inch full-HD (1080x1920 pixels) display with a pixel density of 400ppi. It comes with 32GB of non-expandable, inbuilt storage. Priced at Rs 29,999 the device will be sold via both online and offline channels and is available in black and white colours.
Packaged fruit juice company Dabur India is re-entering the fruit juice-based aerated drinks market after its 2011 foray in this product category under the 'Burrst Fizz' brand failed to take-off. The company has now introduced a new brand called Real VOLO under the 'Real' umbrella. Using a blend of exotic fruits like cranberry, blueberry, blackberry and grape, the range contains 20-25% fruit juice content and is available in 250ml cans priced at Rs 40. To start with the company has launched two variants viz. Cranberry-Blueberry and Grape-Blackcurrant with plans to introduce newer variants.
Kitchenware brand Vinod Cookware has launched gen-next 'Olympic' bottles in the market. Dubbed as the 'tea bottles' it's been designed keeping the tea drinker in mind featuring an easy sip drinking spout and a removable stainless steel infuser that can hold up to five teaspoons of loose leaf Tea. The bottles allow users to brew, steep and sip their favourite loose leaf tea in less than two minutes. Featuring a slim cylindrical leak-proof design, the bottle ensures a complete no-spill experience even when it is turned upside down. Available in 300ml and 400ml capacities, the Olympic bottle are priced at Rs 895 and Rs 995 respectively.
Compiled by Ashish K Tiwari
