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Cosmetics and fashion platform Nykaa saw a 96% slump in quarterly net profit owing to higher marketing and advertisement expenses. The drop, however, also resulted in a 7.4% fall in shares to Rs2,185. Nykaa reported a consolidated net profit of Rs11.7 million for the September quarter, far below the Rs274.7 million quarterly net profit that the company reported in the same period last year and 69 per cent down compared to the June quarter. On the other hand, the company’s marketing and advertisement expenses rose nearly four times to approximately Rs1.2 billion for the said quarter. Its revenue, however, increased 47 per cent to Rs8.9 billion in the quarter ending September 30 from the year before.

“We have maintained growth momentum in our beauty business, accelerated our fashion business and focused on building the brand Nykaa with strong marketing campaigns,” said Falguni Nayar, Founder & CEO, FSN E-Commerce Ventures (Nykaa).

Headquartered in Mumbai, Nykaa was founded in year 2012.  It was launched as an e-commerce portal curating a range of beauty and wellness products. In 2015, the company expanded from online-only to an omnichannel model and began selling fashion products. In 2018, it launched Nykaa Man, a multi-brand ecommerce store for men’s grooming. Earlier this month, Nykaa made a stellar debut on the Indian stock exchange. The stock started trading at a premium of over 82% at Rs2,054 per share on the NSE as compared to its IPO issue price of Rs1,125 and closed over 10% higher at Rs2,208 per share on its first day on the BSE.

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In today’s age, what you wear underneath your clothes is more comfortable, more authentic, looks exquisite, and at certain times helps in boosting your confidence. With the increasing demand for comfort and style, innerwear today is being manufactured using present-day fabrics, while giving them trendy designs.

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What are the top 5 selling categories in knitwear in summer across men’s wear, women’s wear and kidswear?

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Young Bollywood stars, Karthik Aaryan and Diana Penty joined in for the grand opening of H&M’s debut store in Ahmedabad at Iscon Emporio.The new store, spread over 15,500 sq.ft and three floors carry a complete range of fashion and accessories for women, men, and children with new items arriving in the store daily

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“Another key trend is the personalisation of your pair of denim,” said Dani.

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The knitwear market in India is gaining share in Indian fashion retail. The change in consumer’s tastes and preferences and emergence of new categories such as athleisure, gym wear, yoga wear, comfort wear, et al., has lured many brands/retailers to cater to this growing knitwear market. The increasing penetration of these categories in smaller towns and rural areas would fuel this growth.

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