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Online retailer of beauty and luxury products Nykaa.com will launch its own private label this year and foray into jewellery marketing also, according to its founder and CEO Falguni Nayar.
Nykaa also plans to expand its physical presence by adding two more stores this fiscal. Currently, the online retailer has one physical store at the T3 terminal in Delhi airport. Nykaa is tying up its second round of funding for these initiatives and expects to raise about $10 million.
Falguni said the online shopping market which saw about 40 million shoppers in 2014 is expected to reach 100 million within the next two years. Within that space, about 20 per cent or about eight million customers are women.
Nykaa is well-positioned to tap into this market, Falguni said. The online portal draws about 1.5 million visitors a month. About 40 per cent of the business comes through repeat visitors, she said.
Nykaa has relied on an inventory-led model rather than a marketplace to have a more sustainable engagement with customers.
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