India is the Next Major Beauty Market According to Nykaa CEO

 

 

 

[COSMETICS DESIGN ASIA] Nykaa CEO Anchit Nayar is predicting that brands who were turned off by the instability of the Chinese market will look to India as their next major target, citing moves by L'Oreal and Shiseido to expand their presence in India.

Nayar seems to suggest that while brick and mortar stores are seen as profit losers, Nykaa will be looking to expand to physical locations. "Why should my customers go into third-party retail stores, when they want to once in a while try out something like a foundation or a lipstick.

MUSINGS

Interesting statement by the CEO. I wonder if this is Nykaa feeling the heat of international competitors potentially taking a large chunk of their profits/costumer base. Nykaa carries a lot of Indian SMEs (Minimalist, Blue Heaven, and obviously Kay Beauty), so I wonder if their idea is to do a Sephora-type store for domestic cosmetics or if their physical store is only meant to carry Nykaa's house brand(s).