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Beauty brands retailer Nykaa plans to launch an initial public offering in two years. The company also aims to double its revenue to around Rs 1,100 crore by this fiscal end.
“We are already on a path to prepare for an IPO. Before IPO... you need to be formally run and follow a bunch of processes. We also have appointed KPMG as our internal auditor. It (IPO) will happen by calendar 2020,” Falguni Nayar, founder and CEO of Nykaa, told PTI.
Nayar is a former investment banker and used to specialise in IPOs.
The company, which at present has 22 outlets across the country, plans to open 180-200 stores in the next 4-5 years. It had reported a revenue of Rs 570 crore in 2017-18. At present, physical stores contribute below 10 per cent to the online beauty retailer’s revenue.
When asked if the company plans to raise funds for its expansion plans, Nayar said, “We may look at raising funds. But it will not be a lot.”
Nykaa plans to introduce about 20 brands this year. The company at present sells over 850 brands across makeup, skincare, hair care and wellness categories.
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