MOFSL Highlights Nykaa’s Leading Role in BPC

Indian brokerage firm Motilal Oswal Financial Services (MOFSL) has started
covering FSN E-Commerce Ventures, also known as Nykaa. The report highlights
Nykaa as a leading platform in the beauty and personal care (BPC) sector.
Nykaa holds about 27% of India’s online BPC market and focuses on product
authenticity, customer trust, and guided discovery, rather than offering heavy discounts.