Nykaa Fashion's GMV just jumped 30% to turn a rare profit — and its stock took off
After years of leaning on private labels and discounts, Nykaa Fashion switched tack and courted third-party brands — and it finally worked. GMV jumped 30% to over Rs 4,900 crore, and the vertical turned EBITDA-positive (0.1%) for the first time in Q1 FY27, sending the stock to its highest level since January 2022. Myntra, which doesn't even track Nykaa's fashion numbers in its competitor sheet, says it's not worried.