Shares of FSN E-Commerce Ventures, parent company of cosmetic giant Nykaa, slid 1.81 per cent, or Rs 2.70, at Rs 146.40 on BSE amid overall weekness in the market on Wednesday morning in the first trading session after the company's annual general meeting on Monday (September 18, 2023).

What did Nykaa's annual report says

In its investor meet after the AGM, Nykaa said that India's per capita Beauty and Personal Care (BPC) consumption at $15 presents a significant opportunity for Nykaa, which already enjoys an annual consumption value of $80 per capita.

The company estimated India's BPC to grow to $50 by 2030.

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It says it has more than 150 outlets in the country and has 145 beauty specialty stores in different formats.

The company has brands in beauty, personal care, and fashion, and its number of brands on the platform have increased from 1,500 to 2,850, Nykaa said in a statement.

Source credit: ZEE BUSINESS