0

0

0

0

0

0

0

0

0

market | IST

Nykaa listing: Will invest in customer acquisition for long-term growth, says Falguni Nayar

Mini

The beauty & fashion retailer listed with gains of over 80 percent and also hit a market cap of Rs 1 lakh crore on debut. Falguni Nayar, Executive Chairperson, MD & CEO of FSN E-Commerce Ventures said e-commerce within the retail sector has been growing at a very fast pace and some of the valuation reflect that high pace of growth.

It has been a stellar listing for Nykaa on Wednesday. The beauty and fashion retailer listed with gains of over 80 percent and also hit a market cap of Rs 1 lakh crore on debut, making it the 55th highest valued company in India in the listed space.
In an interview with CNBC-TV18, Falguni Nayar, Executive Chairperson, MD & CEO of FSN E-Commerce Ventures (Nykaa) said e-commerce within the retail sector has been growing at a very fast pace and some of the valuations reflect that high pace of growth. She said the company will continue to focus on new customer acquisition with financial discipline.
"This kind of listing puts a lot of responsibility on us to continue the growth momentum that we have enjoyed in this industry. Because of the greater penetration of e-commerce within the retail sector, it has been growing at a very fast pace and some of our valuations reflect that high pace of growth. The investors want us to deliver a high pace of growth without too much capital dilution. So we will continue to focus on new customer acquisition with financial discipline that we have always delivered in the past," said Nayar.
The management expects the second half of this fiscal to deliver strong growth riding on festivities and the wedding season.
"For Nykaa the first half is not seasonally superior, second half starting October is when the seasonality sets in India. So October-December quarter is very strong and that is something that you can expect."
At 2:35 pm the stock was trading around Rs 2200 up 9 percent from the opening price.
Watch the video for more.