Key Points
[1/2]Beauty products by Nykaa, an Indian beauty products retailer, are seen for sale in a store at a mall in New Delhi, India, July 12, 2022..
BENGALURU, Nov 6 (Reuters) - FSN E-Commerce Ventures (FSNE.NS), parent of cosmetics-to-fashion retailer Nykaa, on Monday reported its slowest quarterly revenue growth since listing, hurt by stiff competition in its mainstay beauty and personal care (BPC) segment...
Consolidated revenue from operations grew 22.4% to 15.07 billion rupees ($181.17 million) in July-September, its slowest year-on-year percentage growth since the company went public in November 2021...
Revenue growth was also muted due to a delay in the festive season, which started in October this year in India as opposed to September a year ago, pushing sales and traffic to the current quarter for a number of retailers...
"Shift of around 20 days in the festive calendar has resulted in some growth being impacted for the quarter," the company, which sells makeup, personal care items, as well as clothes and other accessories through its app and brick-and-mortar stores, said...
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