, the parent company of , on Sunday forecast a year-on-year consolidated growth of around 22-23 per cent in the first quarter of 2024-25 (FY25) with a matching momentum for vertical but flagged "muted" demand environment in the fashion industry. In a BSE filing on its quarterly revenue update for the April-June quarter of , the company said for the consolidated entity, the (Gross Merchandise Value) growth for the quarter is seen to be in the mid-20s year-on-year. FSN E-Commerce Ventures also informed that it is commencing vertical-wise segmental reporting, beginning this quarter.
"Nykaa - FSN E-Commerce Ventures Limited along with its subsidiaries, that is the consolidated entity expects its revenue growth to be around 22-23 per cent YoY in Q1 FY2025," the company said. The Beauty vertical revenue growth for the quarter is expected to be around 22-23 per cent YoY, similar to the consolidated entity's revenue growth. "GMV growth is expected to be higher, in the high twenties YoY, in line with long-term BPC (Beauty and Personal Care) industry growth-trajectory.
This is despite relatively slower growth in our physical retail business which was impacted by elections as well as heatwaves across North India," it said. The company, however, flagged the soft demand environment in the Indian fashion industry. "The overall fashion industry in India continues to face challenges with a muted demand environment.
The growth was further impacted in this seasonally weak quarter due to limite.
