I don’t have any detailed idea about the products or the product categories Nykaa in present in, so is the market fragmented and there are lot of generic and local brands that Nykaa has to compete with in order to increase market share?
Are the prices of Nykaa’s products affordable by all of their target customers so that it has a pan India presence? Or Nykaa is more of an urban story, and targeting a specific set of customers, providing them with premium quality with wide varieties and these customers will not shift to other players?
Dmart is not a margin story, it is a sales story, expanding presence story, strengthening its presence story, and capturing market story, with a successful business model. Does Nykaa belong to this category?
To me Nykaa is a discretionary spend, but, if sales are increasing and if one believes the management and also sees their products everywhere in physical stores and/or online, then may be it is not a discretionary spend and part of lifestyle.
Not invested, obviously, but interested.
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