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Subscribe to FSN E-Commerce Ventures: KR Choksey

KR Choksey has come out with its report on FSN E-Commerce Ventures. The research firm has recommended to ''Subscribe'' the ipo in its research report as on October 27, 2021.

October 27, 2021 / 03:10 PM IST
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KR Choksey IPO report on FSN E-Commerce Ventures

FSN E-Commerce Fashion or “Nykaa“ is a multi-brand beauty, personal care and fashion platform. Nykaa is founded and promoted by Falguni Nair, a former managing director at Kotak Mahindra Capital Company. The brand name Nykaa is derived from the Sanskrit word nayaka, meaning ‘one in the spotlight’. In 2015, Nykaa expanded from online only to an Omni channel company and began selling products apart from Beauty. Going forward, Nykaa has plans to foray into international market and expand its presence in Middle East and Europe. Nykaa also plans to open more retail stores, setting up warehouses and reduce its borrowings which augurs well for the company in long term.

Valuation and Outlook

We expect Nykaa to benefit from prevailing tailwind in the industry, its strong technology led platform, strong relationship with global brands, diverse portfolio of own brands, content first approach, Omni channel presence, loyal customer base, planned expansion in Middle East and Europe, growth in Tier II & III cities and strong management team. Considering the prevailing opportunities, investors should look to invest in Nykaa’s IPO for listing gains as well as long term opportunity it presents.

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