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Katya Naidu
25 May 2023, 18:23

Nykaa is going strong on physical stores as it aims for an ‘optimum offline-online mix’

Nykaa is going strong on physical stores as it aims for an ‘optimum offline-online mix’

Nykaa is going strong on physical stores as it aims for an ‘optimum offline-online mix’

Indian beauty and personal care e-tailer Nykaa intends to continue investing in physical stores to increase its online-to-offline mix. Despite the brand experiencing a 72% decline in profits after a Q4 surge in expenses, the company’s physical retail footprint has grown by 59% and 43% in the past two years, reaching 145 stores in 60 cities, and accounting for 26.4% of total gross merchandise value. Nykaa is looking to add another 50 stores in FY24. The company has doubled its physical store count since the end of the previous fiscal year, with the offline sales of beauty and skincare products exhibiting 47% growth.

Reliance Consumer Products completes acquisition of controlling stake in Lotus Chocolate
25 May 2023, 17:53

Reliance Consumer Products completes acquisition of controlling stake in Lotus Chocolate

Reliance Consumer Products (RCPL), fast-moving consumer goods arm of Reliance Retail Ventures (RRVL), has completed the acquisition of 51 per cent controlling stake in Lotus Chocolate Company for an aggregate consideration of Rs 74 crore

DGCA advises Go First to submit revival plan within 30 days
25 May 2023, 17:12

DGCA advises Go First to submit revival plan within 30 days

The Directorate General of Civil Aviation (DGCA) on Wednesday advised Go First airline to submit a comprehensive restructuring plan for a sustainable revival of operations.