Nykaa ERetail Private Limited Enduring COVID19 and Preparing for the Future
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Nykaa, the Indian online cosmetics retailer, faced a huge setback due to the COVID-19 pandemic in early March, 2020. The pandemic led to massive economic disruption, and the country’s retail industry went into a free fall. go to this web-site The company’s initial response was to move all the orders online. But even with the help of Amazon Prime, the website crashed, and customers could not find any product. The company, initially, decided to close their physical stores. However, the company
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Nykaa is India’s leading online cosmetics e-commerce platform that was launched in December 2011. The company, founded by Deepika Sethi, Nischay Sethi, and Gaurav Sethi, has grown into one of India’s most prominent beauty brands. Nykaa’s revenue has grown 138x in FY20 and the company aims to be the world’s leading e-cosmetics player by 2025. Nykaa’
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Nykaa ERetail Private Limited is one of the most significant players in the beauty and fashion industry in India. As the pandemic hit the world, it had a devastating impact on businesses. However, our company persevered, and we saw an opportunity to build a sustainable business model to survive the crisis. The crisis has changed the world and will continue to affect people’s purchasing behavior. Our company’s mission, “We connect the beauty world with India’s beauty needs” has become even more important than before
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“Nykaa is ERetail Private Limited, India’s leading online beauty and fashion destination, headquartered in Bengaluru. Founded in 2010, Nykaa is the only e-commerce company to have been awarded ‘India’s Best Retail Website’ by The Brand Trust Report 2019, making it the most trusted e-commerce brand in India. Nykaa has been one of the most successful e-commerce ventures in India. In 2020, Nyka
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In the year 2020, the world changed drastically with the outbreak of COVID-19. The impact of this pandemic has been far-reaching. The world’s largest e-commerce platform, Amazon, has seen a surge in its sales from traditional brick-and-mortar retail. The company has reported a huge increase in sales and has also added a new dimension to its operations by integrating with its e-commerce platform to enable customers to order and pay for products via its mobile app. This has created a new market
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Nykaa ERetail Private Limited (NYKA) is a leading online beauty retailer in India, started by Neha and Nishant Dhawan. The brand has 11 e-commerce stores and over 750 employees, selling about 1350 SKUs at 2200 retail locations across India. COVID-19 has been a game changer for NYKA. In early 2020, NYKA was already growing fast, but with Covid-19, the
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I had the pleasure to work at Nykaa for more than five years. Being the company’s top expert, I witnessed the organization’s journey and growth from the company’s inception until present times. In my personal experience and honest opinion, I’d like to share my observations on how Nykaa has stood the test of time during the COVID19 pandemic and what challenges it may face ahead. 1. The pandemic affected all sectors, but Nykaa’s business model stood out as an exception. Initially, when the first