The absence of a prominent leader other than Nykaa in the online space offers Reliance Retail's Tira brand sufficient headroom to position itself as a strong contender in India's burgeoning beauty and personal care industry
The MSME-focused fintech claims to have disbursed over 70,000 loans worth over Rs 3,400 crores, with more than half of it going to first-time business loan borrowers
The Nykaa-backed skincare brand plans to open over 70 kiosks across India and international markets and expects these to generate 10 per cent of its FY 2022–2023 total revenue via omnichannel business.
Red Seer estimated that the Saudi Arabian and UAE markets, the two biggest beauty and personal care markets in the Gulf, were $17.1 billion and $6.6 billion respectively in 2021