Furniturewalla will endorse the brand’s collections in its new ad campaign film, slated to run across TV and digital channels this month.
Furniturewalla said that fashion was a big part of her professional and personal life. “Being the face of Nykaa Fashion is a milestone in itself,” she said.
Nykaa said it receives over 19.3 million monthly average unique visitors and has close to 4000 brands listed on its website.
Nykaa Fashion is the fashion offering from Nykaa. In 2019, the Falguni Nayar led company had acquired women’s styling platform 20Dresses.com. This year, Nykaa Fashion, also announced the acquisition of online jewellery brand Pipa Bella.
Ecommerce retailer Nykaa Fashion has announced that actor Alaya Furniturewalla will be the face for its platform and promote its brand Twenty Dresses’ new collection.
Adwaita Nayar, co-founder Nykaa and CEO of the fashion vertical said, “Alaya represents a woman who is picky yet proud of her choices. She added that shoppers can expect to see her personal favourite styles for different seasons on the app, web and through the digital campaign.
In August this year, the company filed its draft red herring prospectus (DRHP) document. It said that it had made a revenue from operations of ₹2,440.89 crore in FY2020-21. This, it said, was up 38.10% from FY2019-20.
The company’s stated profit for the financial year 2021 was ₹61.94 crore, as compared to a loss of ₹16.34 crore in FY2019-20. The company also reported an EBITDA of ₹1,614.26 million and an EBITDA margin of 6.61% in FY2020-21. The promoter and the promoter group of the company hold 54.25% of the stake in Nykaa. According to media reports, Nykaa will be looking to raise anywhere between $500 million and $750 million via its initial public offering.
As per research firm RedSeer, the entire fashion market in India is growing at a CAGR of 11% with online fashion growing the fastest, at a CAGR of 32%. Consumers across India, it states, have been gradually veering towards organised and online retail. According to the India Brand Equity Foundation, the Indian e-commerce market is expected to more than double to $111.40 billion by 2025 from $46.2 billion in 2020.
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