Nykaa should double down on digital rather than foray into physical
- The company has been looking to increase its offline presence of late but could struggle to compete with giants such as Reliance and Tata in capex-heavy physical retail
The name ‘FSN E-commerce Ventures’ suggests the company is online-only, and Nykaa’s parent firm was indeed conceived as such. But Nykaa – as the company is popularly known – is doing its best to become an omnichannel (that is, online and offline) one-stop shop for fashion, and beauty & personal care. It’s not alone in this endeavour either. Other retail startups such as Lenskart, UrbanLadder and many of Myntra’s fashion brands are also trying to expand offline.