The company also aims to double its revenue to around Rs 1,100 crore by end of 2018-19.
Beauty brands retailer Nykaa is planning to launch an initial public offering (IPO) in two years. The company also aims to double its revenue to around Rs 1,100 crore by end of 2018-19.
Falguni Nayar, Founder and CEO of Nykaa, said, “We are already on a path to prepare for an IPO. Before IPO, we need to formally run and follow a bunch of processes. We also have appointed KPMG as our internal auditor. It (IPO) will happen by calendar 2020.”
Currently, Nykaa has 22 outlets across India. The company looks to start 180-200 Nykaa stores in the next 4-5 years.
Nayar also said, "We have a want and dominant footprint to be relevant in the beauty and makeup space. We have set a target of growing by 100 per cent our revenue to about Rs 1,100 crore in the current financial year."
In 2017-18, the company had reported revenue of Rs 570 crore.
Nykaa is planning to launch about 20 brands this year. At present, it sells over 850 brands across makeup, skincare, hair care and wellness categories.