February
09, 2022
FSN E-Commerce Ventures Limited
Quarter ended December 31, 2021 –
Result Press Release
Mumbai, India, February 09, 2022: FSN E-Commerce Ventures Limited (referred as “Nykaa” or the “Company”), today announced its financial results for the quarter and nine months ended December 31, 2021, (Q3 FY22).
Q3 FY22 has been a strong quarter led by growth in transacting customers. Our Consolidated Revenue from Operations grew 24% sequentially (“QoQ”) and 36% Year on Year (“YoY”) to ₹ 10,984 million in Q3 FY22; and grew 65% year to date FY22. Profit after Tax increased to ₹ 290 million in Q3 FY22 from ₹ 12 million in Q2 FY22
Operational Highlights for the Quarter:
• Consolidated GMV grew 26% sequentially (“QoQ”) and 49% Year on Year (“YoY”) to ₹ 20,435 million in Q3 FY22; and grew 83% year to date FY22
• Beauty and Personal Care (BPC) GMV grew 29% QoQ and 32% YoY to ₹ 15,333 million in Q3 FY22; and grew 58% year to date FY22
• Fashion GMV grew 17% QoQ and 137% YoY to ₹ 5,102 million in Q3 FY22; and grew 236% year to date FY22
• Fashion GMV contribution 25% to consolidated GMV in Q3 FY22
• Annual Unique Transacting Customers in BPC vertical grew 9% QoQ and 44% YoY to 7.9 million, and in Fashion vertical grew 23% QoQ and 278% YoY to 1.6 million in Q3 FY22
• Order volume in BPC vertical grew 25% QoQ and 31% YoY to 7.6 million with sustained AOV, and in Fashion vertical grew 5% QoQ and 90% YoY to 1.4 million with an uptick in AOV in Q3 FY22
Consolidated Financial Highlights for the Quarter:
• Revenue from Operations grew 24% QoQ and 36% YoY to ₹ 10,984 million in Q3 FY22, led by growth in transacting customers and advertisement revenue; Revenue from Operation grew 65% year to date FY22
• Gross Profit grew 51% YoY to ₹ 5,088 million in Q3 FY22 at a margin of 46.3%, an improvement of 359 bps sequentially primarily led by increase in share of high margin products and higher marketing support revenue; Gross Profit grew 89% year to date FY22
• EBITDA was ₹ 690 million in Q3 FY22 at a margin of 6.3% (vs 3.3% in Q2 FY22), sequential improvement driven by higher Gross Profit Margin; EBITDA grew 11% year to date FY22
• Profit before Tax was ₹ 370 million in Q3 FY22, sequential increase driven by higher EBITDA; Profit before Tax was ₹ 415 million year to date FY22, lower by 9%
• Profit after Tax was ₹ 290 million in Q3 FY22; Profit after Tax was ₹ 337 million year to date FY22
Key Business Highlights for the Quarter:
• Nykaa hosted its biggest annual flagship event- the Pink Friday Sale from 24th - 30th November in Q3 FY22, featuring the widest curation of 100% authentic products and irresistible offers on 1500+ brands from international bestsellers to homegrown staples - across beauty and fashion- on app, web, and in retail stores
- To announce the Pink Friday sale Nykaa launched a marketing campaign across multiple digital and social channels featuring its brand ambassador Janhvi Kapoor, inviting viewers to get excited for the biggest haul of the year
- During the sale, Nykaa enabled interesting formats to engage consumer- such as Watch & Buy livestreams (live commerce) - an interactive, entertaining gamified shopping format as part of which special deals were unveiled, valid exclusively during the livestreaming session
- The Biggest Beauty Steal event, hosted by Dolly Singh, was a hit with app users as they discovered and explored the world of beauty real time while watching entertaining content on app
• Nykaa launched campaign Tum Hi Ho Nykaa, a brand film celebrating women who scripted their own life stories through a montage of six stories of everyday women, reiterating out Nykaa's promise of being a true supporter of self-expression, broadcasted across TV, OTT and social platforms
• In Q3 FY22, Nykaa Fashion launched its first TV campaign For Nakhrewalis, By Nakhrewalis, starring its first brand ambassador Alaya F, portrayed the quintessential Nykaa Fashion shopper who seeks choice and curation when it comes to fashion and loves to express her mood with her style
• Nykaa Beauty introduced multiple international brands Sol de Janeiro, Elemis, 111Skin, Nudestix, bringing the best of global beauty to India - across premium and luxe categories.
• Nykaa Fashion launched popular Scandinavian brand NA-KD in India. NA-KD is one of Europe's top 20 fastest growing companies and a leading fashion brand that also focuses on functionality and offers timeless wardrobe staples
• In Q3FY22, Nykaa Cosmetics launched a new format of quick drying nail enamel called Nykaa Insta Dry that dries instantly within a minute. Introduced 100% Natural Hair Oils to increase market share in the Hair category and further penetrated our skincare offering with the 20% Vitamin C serum, the holy grail skincare ingredient
February 09, 2022
• Nykaa Fashion collaborated with designer Nikhil Thampi for its owned brand RSVP, to launch a distinct party collection for 2021, offering an exciting range of designer clothing at attractive pricing to consumers. Also launched Masaba for Nykd, an elevated sleepwear collection created in collaboration with designer Masaba Gupta. This comfortable yet fashionable sleepwear collection was very well received especially as consumers continue to spend more time indoors
• With the return of customers into physical retail, Nykaa has accelerated store expansion this quarter, with 12 new physical retail stores across the country including stores in Tier 2/3 cities such as Jodhpur, Rajkot, Trivandrum. Our total operational physical store count was 96 as of December 31, 2021 in 45 cities
• Nykaa continues to ensure access and timely delivery for customers across the length and breadth of the country. It expanded warehouse storage space by 1.35 lakh square feet during Q3 FY22
On Q3 FY22 performance, Falguni Nayar, Executive Chairperson, MD, and CEO, said:
Our previous quarter was defined by a milestone moment in the company’s journey with a successful IPO and listing on the stock exchanges. We continue to be on a steady growth trajectory across both Beauty and Fashion businesses, with an overall revenue growth of 65% for the nine-month period year-on-year. Growth in Beauty business accelerated in a relatively normalized Covid environment, with a strong revival in the cosmetics category. Our physical store network also experienced one of its strongest quarters ever and we continued opening new stores in line with our larger omnichannel vision. Marketing continues to be an area of investment for Nykaa, to reacquire as well as recruit new consumers as a means to ensure stronger organic growth.
Fashion, while still an early-stage business in the Nykaa ecosystem, now contributes to 26% of the consolidated GMV year to date. It has witnessed robust growth across revenue metrics, boosted by the acquisition of new customers in the year so far. The overall Fashion portfolio grew with the launch of new international brands as well as the expansion of Nykaa's owned brands, Nykd and RSVP, through strategic collaborations.
Summary of Consolidated financial performance for the quarter and nine months ended December 31, 2021
Summary of Key operational metrics for the quarter and nine months ended December 31,
|
|
Number of Visits
|
Beauty and Personal Care |
Million |
232 |
201 |
16% |
220 |
6% |
|
Fashion |
Million |
115 |
56 |
105% |
115 |
0% |
Monthly Average Unique Visitors
|
667 |
465 |
43% |
|
328 |
95 |
245% |
|
Beauty and Personal Care |
Million |
22 |
16 |
39% |
21 |
4% |
|
Fashion |
Million |
16 |
7 |
120% |
16 |
1% |
Orders
|
21 |
12 |
67% |
|
15 |
4 |
260% |
|
Beauty and Personal Care |
Million |
7.6 |
5.8 |
31% |
6.1 |
25% |
|
Fashion |
Million |
1.4 |
0.7 |
90% |
1.3 |
5% |
Average Order Value (AOV)
|
19.7 |
11.6 |
69% |
|
3.9 |
1.5 |
156% |
|
Beauty and Personal Care |
₹ |
1,966 |
1,976 |
0% |
1,913 |
3% |
|
Fashion |
₹ |
3,590 |
2,905 |
24% |
3,257 |
10% |
Annual Unique Transacting Customers
|
1,911 |
2,056 |
-7% |
|
3,348 |
2,557 |
31% |
|
Beauty and Personal Care |
Million |
7.9 |
5.5 |
44% |
7.2 |
9% |
|
Fashion |
Million |
1.6 |
0.4 |
278% |
1.3 |
23% |
|
Gross Merchandise
Value (GMV) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beauty and Personal Care |
₹ in Million |
15,333 |
11,587 |
32% |
11,859 |
29% |
|
Fashion |
₹ in Million |
5,102 |
2,154 |
137% |
4,370 |
17% |
|
Total |
₹ in Million |
20,435 |
13,741 |
49% |
16,229 |
26% |
|
7.9 |
5.5 |
44% |
|
1.6 |
0.4 |
278% |
|
|
|
|
|
38,040 |
24,081 |
58% |
|
13,320 |
3,969 |
236% |
|
51,360 |
28,050 |
83% |
About Nykaa: February 09, 2022
Nykaa (FSN E-Commerce) was
founded in 2012 by Indian entrepreneur Falguni Nayar with a vision of bringing
inspiration and joy to people, everywhere, every single day. Derived from the
Sanskrit word ‘Nayaka’, meaning one in the spotlight, Nykaa has emerged as one
of India’s leading lifestyle focused consumer technologies platforms. Since its
launch, Nykaa expanded its product categories by introducing online platforms
Nykaa Fashion and Nykaa Man. Delivering a comprehensive Omnichannel ecommerce
experience, Nykaa offers 4,078 brands and over 3.1 million product SKUs through
its website and mobile applications as of August 31, 2021. The Nykaa Guarantee
ensures that products available at Nykaa are 100% authentic and sourced
directly from the brand or authorized retailers. Through engaging and
educational content, digital marketing, social media influence, robust CRM
strategies, and the Nykaa Network community platform, Nykaa has built a loyal
community of millions of beauty and fashion enthusiasts. For more details visit
www.nykaa.com or write to investor-relation@nykaa.com.
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