Nykaa Fashion delivered a strong performance in the first quarter of FY2027, with its gross merchandise value (GMV) rising 53% year-on-year (YoY) to Rs. 1,471 crore (US $153.90 million), driven by robust customer growth, brand additions and strategic partnerships.
The fashion business reported a 54% YoY increase in net sales value (NSV) to Rs. 451 crore (US $47.19 million) during the quarter. It also achieved a significant improvement in profitability, with its EBITDA margin (as a percentage of NSV) improving to 0.1% from a negative 6.2% in the corresponding quarter of the previous fiscal.
Nykaa Fashion’s cumulative customer base expanded 34% YoY to 12 million, supported by continued demand across key categories. Women’s fashion grew 40% YoY, while the men’s and kids’ segments recorded stronger growth of 83% and 57%, respectively.
During the quarter, the platform added more than 130 new brands, including Birkenstock, Debenhams and H&M Move, further expanding its product portfolio. Its partnership with Nike also continued to gain traction, with the Nike app surpassing 1.5 million installs within six months of launch, making it one of the top three brands on Nykaa’s platforms.
The company also highlighted the early success of its AI-powered Virtual Closet feature. Since its launch in May 2026, the virtual try-on platform has generated over 200,000 virtual avatars and delivered twice the conversion rate compared to users who did not use the feature.
Nykaa said the performance reflects continued momentum across both core and emerging fashion categories while reinforcing the business’s focus on profitable growth through customer acquisition, premium brand partnerships and technology-led shopping experiences.
