Bengaluru, Aug. 12 -- Beauty and fashion e-tailer Nykaa (FSN E-Commerce Ltd) saw its multi-brand beauty business grow in healthy double-digits in the June quarter of FY26 on the back of premium products. The vertical's gross merchandise value (GMV) rose 26% to Rs.3,208 crore in Q1, while the average order value shot up to Rs.2,009 versus Rs.1,924 a year ago.

The Mumbai-based company will now double on driving up premiumisation in the coming quarters, especially at a time when urban consumption has slowed down, Anchit Nayar, executive director and head of beauty business, told analysts on Tuesday.

"We are living in very strange times, where there is very clear uncertainty and pressure on urban consumption. Despite that, Nykaa has managed...