Nykaa is a wellness and beauty e-commerce platform that sells branded products under wide categories of skincare, makeup, luxury products, fragrances, hair care, bath & body products for men and women. They have a huge collection of products ranging from shampoo, body care, perfumes and provide genuine and home-delivery services.The online portal has a wide collection of more than 35,000 products from more than 400 brands.
How it STARTED? It was founded by investment-banker-turned entrepreneur FalguniNayar and her husband Sanjay Nayar in 2012, $2 million were invested in the company. The Nayars controlled about 95% of the stakes in it.
FalguniNayar, ex-MD, Kotak Mahindra Bank founded Nykaa.com when she was searching for various business options. It was then she noticed that unlike other countries like Europe, France, and Japan where there are a number of stores offering beauty products and fragrances, there is hardly any in India. Though the demand for such outlets was high but there were no apt retail formats in India.
The primary focus of the company is for 3 types of customers- One who are short on time, one who are beauty experts and makeup or beauty newbies. With the growing e-commerce reach in the remote areas, Nykaa has established its presence in more than 1,000 cities to more than 10,000 zip codes.
Marketing Strategies adopted by Nykaa
1.Content Marketing: People consume content and that is what Nykka has gained the advantage of. It has established a good team for its content strategy. Content should be engaging with customers and Nykka rightly knows how to play with words. It creates eye-catching content for readers and gauges their attention to buy the products they are offering. They keep their audience engaged with the right content-filled blogs and social media has driven many customers on their web portal.
2.YouTube Channel: Nykka runs its own YouTube Channel “Nykka TV” to provide the best video guidance for using cosmetics and fashion products and remain aware of the latest trends in the society. They have all lists of “how-to-do” videos to give knowledge to their customers on various make-up tutorials and usage of products.
3.Discounts coupons and offers: The best thing about Nykka is that their discounts are not seasonal or festive oriented. They have a regular on-going coupon and discount waivers from the great make-up brands that it attracts customers to definitely bulk up their carts.
4.Social Media: It has acquired its strong social presence and uses various social media platforms for its lead generation. It has a massive 1.4 million fan following. They have also integrated “Shop Now” option on Facebook that redirects the users directly to their web page to purchase the products. YouTube channel has around 50K subscribers.
5.Nykka Experts: Apart from the content writers and a team of marketers, Nykka has many advisory experts and people who give solutions to all the fashion queries online.
6.Nykka retail shop: An offline Nykka’s retail shop has been launched at IGI Airport, Terminal-3, New Delhi.
7.RESULTS ACHIEVED: Nykka has generated INR 220 crores as its revenue for the year 2-15-16 with more than 95% repeated customers. It has also acquired 133K and counting followers on Instagram and other social media platforms. Since its inception in 2012, within 4 years, the company has grown drastically.