Nayar said it is the culture and speaking to the customers that matters in her business more than the cost
Mumbai: Nykaa founder and CEO Falguni Nayar on Thursday said India is a big opportunity for Nykaa and it may look at venturing into the wellness segment in the future as it is a good sustainable business.
Speaking at the CNBCTV18 Global Leadership Summit here, she said it is the culture and speaking to the customers that matters in her business more than the cost.
“I think Nykaa would love to go into wellness, which is a good long-term sustainable business that we’d like to pursue beyond beauty and fashion,” Nayar said when asked about the five-year roadmap for Nykaa.
Stating that she continues to remain “very excited” about India and bringing great research-driven products to the country that Indians love, she said, “Privately, building products is what current focus is but in the long- run it could also be services.
She also said that Nykaa will continue to chase industry-beating growth.
“International is attractive and especially GCC where we ventured, and there could be more markets like that. However, India remains a topic opportunity, the bulk of our energy and investment will continue to go in India,” she said.
India is a very sizable economy and the consumption cycle at least to the market that you’re catering to has just about started to take off, Nayar said and added there are high growth rates in India and abroad.
“So we remain very excited about discretionary consumption in India. And I personally feel that the coming decade could be one of the best for digital and retail (segments) in India..
She also said, “In India, I think the best time for beauty is yet to come and similarly, while in the really near term, it seems like physical retail is also moving ahead as strongly as digital but the advantages of digital remain very strong. And I remain convinced about digital,” she added.
