Adwaita Nayar, Anchit Nayar

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Nykaa had a blockbuster FY26. Under the leadership of siblings Anchit and Adwaita Nayar, the beauty and fashion retailer surpassed `10,000 crore ($1 billion) in net revenue for the first time and delivered its highest-ever profitability since listing. Even Nykaa Fashion, long seen as the weaker link, turned Ebitda-positive in Q4, signalling that growth is finally translating into profits. Global brands such as Chanel Beauty, La Prairie, SK-II, La Roche-Posay, and Supergoop are increasingly viewing Nykaa as an India launchpad . The twins have also stepped up Nykaa’s omnichannel game with 313 stores across 99 cities, experiential formats such as Nykaa Perfumery, and deepening partnerships with brands like Kiehl’s and Charlotte Tilbury. “Everything we’re able to do now rests on having solved three things first: expanding availability, shaping consumer understanding, and building trust,” says Anchit. Meanwhile, House of Nykaa has become a consumer brands powerhouse with the likes of Dot & Key and Kay Beauty. “Our ambition is to create multiple scaled brands, surpass `7,000 crore in GMV by FY30 and establish House of Nykaa as the home of India’s most enduring beauty brands,” says Adwaita. Nykaa has strengthened its premium positioning at home with the launch of Kay Kafe, a first-of-its-kind beauty-and-coffee concept. The twins are now broadening ambitions beyond beauty retail. Strategic partnerships with Nike and H&M have strengthened Nykaa’s fashion business, while Superstore continues to expand its reach into offline retail.