Nykaa, started as an online beauty retailing venture has plans to go aggressive on the offline ramp-up.
It targets to reach 300 stores across 100 cities as against 84 stores across 40 cities currently.
The Promoter CEO, Ms Falguni Nayar, however, declined to provide any specific timelines to achieve this target.
It’s interesting that initially everyone thought e-commerce has cost advantages over the physical stores and hence is the future. Then slowly people realised that pure online model may not be the solution as offline retailing is here to say. Everyone now is therefore targeting a hybrid of online and offline and trying to gain a wider customer acceptance.
What will succeed and what not is still a big question mark. Online or offline or both – retailing continues to be one of the most difficult business to execute and for me personally would continue to remain so.
Reason – ever increasing customer expectations, pricing pressures and competition.
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