Nykaa Fashion's GMV up 37% YoY: What's driving the buzz

Business Nov 11, 2025

Nykaa Fashion reported a 37% year-on-year increase in GMV and a 48% rise in new customer acquisitions.
What's driving the buzz? The platform's been adding fresh brands and expanding into menswear, kidswear, and home—making it way more appealing to a broader crowd.

Popular labels and tier-2 focus

With popular labels like H&M, GAP, and Mufti now on board, Nykaa Fashion is seeing over 60% of its sales coming from tier 2 cities and small towns.
The recent festival season (plus some GST tweaks and an early Diwali) gave sales another push—helping keep that growth streak going strong.