New Delhi: Beauty brands retailer Nykaa is looking at going public in two years and has begun preparations for its initial public offering (IPO), a top company official said. The company is also looking to double its revenue to around Rs 1,100 crore by 2018-19 end as it is bringing in new brands.
“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, the founder and CEO of Nykaa told.
Nayar is a former investment banker and used to specialise in IPOs.
There are 22 outlets across the country of Nykaa and further the company is planning to open up 180-200 Nykaa stores in coming 4-5 years.
Nayar also informed that we are looking forward to dominate the beauty and makeup space. The growth target set by the company is 100 per cent and to hit the revenue mark of Rs 1,100 crore in the current fiscal year.
Total revenue posted by Nykaa in the year 2017-18 was reported to be Rs 570 crore.
Out of the total revenue of the online beauty retailer, the contribution of the physical store is under 10 per cent.
Answering the question on fundraising so as to support the expansion plans, CEO said that we might look at raising funds but the amount won’t be much.
The company is also looking forward to bring in about 20 brands this year. The company at present sells over 850 brands across makeup, skincare, hair care and wellness categories.