Key Takeaways:Beauty GMV up 28% YoY, anchored by luxury expansion.Nineteen new stores and rapid-delivery hubs enhance customer reach.House Of Nykaa surges 54% YoY, signaling platform-brand evolution.Beauty, wellness, and fashion retail company Nykaa’s FY26 Q2 results affirm that its beauty and personal care business remains the anchor of its growth.In the quarter ended September 30, 2025, the company achieved net revenue of 2,345.98 crore ($267 million), up 25.1% year-over-year (YoY). The gross merchandise value (GMV) for the quarter rose 30% to 4,744 crore ($540 million). In the beauty business vertical, Nykaa’s GMV grew 28% YoY to 3,551 crore ($404 million). The narrative for Nykaa has shifted from simply rapid growth to high-quality growth, with premium brands, higher margins, and omnichannel reach. The beauty business is not just growing, it’s evolving.Premiumization: The Beauty StoryA crucial element of Nykaa’s beauty strategy is moving up the value chain, with more premium brands, better unit economics, and an improved mix.“This quarter saw accelerated brand launches, particularly across luxury and Korean beauty, alongside the addition of 19 new stores, further strengthening our omnichannel presence,” Nykaa founder and CEO Falguni Nayar said on the earnings call.During the quarter, Nykaa added brands including Chanel, Aestura, and Supergoop!. The results show that, for beauty brands, being present on Nykaa is a valid premium play, but the bar is rising. It's no longer just about distribution; it's about association with elevated experiences.Omnichannel Strategies Nykaa is not just an e-commerce platform.