THE WHAT? Indian e-tailer Nykaa is set to place a greater emphasis on its bricks & mortar stores, with Founder and CEO Falguni Nayar a ‘big believer’ in physical retail.
THE DETAILS Nayar cited a demand from consumers for the development, telling CNBC, “A lot of beauty is sold offline and Nykaa has become such a big brand that we cannot ignore our offline channel as well as offline consumers. There will be greater emphasis on stores, but I think we will continue to be a dominant e-commerce player.”
Nykaa is predominately an e-commerce platform but has 100 retail stores in India.
THE WHY? Nayar continued, “The last two years have been very much impacted by Covid-19 and what it does to physical retail. However, we do believe that if you look at the math and statistics, e-commerce penetration is only 8%.”