mumbai, June 10 -- Beauty and personal care retailer Nykaa expects its house of brands business to grow significantly and drive profitability over the next three years, co-founder Adwaita Nayar said. The company is betting on its bouquet of home brands in the cosmetics, personal care and apparel segments to lead the charge. Together, Nykaa's house of brands business across fashion and cosmetics has hit a gross merchandise value (GMV) run rate of Rs.2,100 crore, Nayar said in an interview. "It has more than doubled in size in two years," said Nayar, an executive director on the listed company's board and chief executive officer (CEO) of Nykaa Fashion. FSN E-Commerce Ventures Ltd, which operates as Nykaa, has acquired three brands-Dot & Key, Earth Rhythm and KICA brands-and built nine others in-house. "We've been slowly trying to fill the white spaces. We got brands in make-up-like Nykaa Cosmetics and Kay Beauty. We got brands in skincare like Earth Rhythm. We've slowly started building Wanderlust, which is our bath and body brand. We've just started building our perfume business. We have Indian wear, western wear, lingerie and sportswear," Nayar said. Nykaa has been building its brand capabilities over the last few years by hiring key talent, setting up processes and capabilities, working on the product research and development and distribution, Nayar said. Founded by her mother Falguni Nayar in 2012, Nykaa began as an e-commerce platform to curate beauty and wellness products, eventually expanding into fashion and offline retail to become a prominent omnichannel beauty and lifestyle destination. Dot & Key, which Nykaa acquired when it had annual sales of Rs.40 crore, has grown 14-fold over the last four years. It expects some of its own brands like Nykaa Cosmetics, Kay Beauty, Nykd and Twenty Dresses to lead the charge. Nykaa Cosmetics is a Rs.350 crore gross margin merchandise business. "Slowly, steadily, we want to build great customer brands in each of these," she said....