Nykaa expects mid-20s revenue growth in Q1 as beauty demand holds up, fashion recovers

FSN E-Commerce Ventures, the parent company of beauty and fashion platform Nykaa, expects consolidated net revenue growth in the mid-20% range for the June quarter, buoyed by sustained demand in its core beauty business and a rebound in fashion.

Gross merchandise value (GMV) is also estimated to have grown in the mid-20% range, the Mumbai-based company said in a quarterly update.

Nykaa’s beauty vertical is expected to post GMV growth in the higher end of the mid-20% range, though the company flagged a marginal business impact from subdued consumer…