As we all know very well, nowadays, a huge brand in the cosmetic world is NYKAA. Every day, Nykaa’s product demand increases. The best thing about this brand is- it is an Indian brand. But now, according to the report, Nykaa leases office space in Mumbai. So, let’s discuss the same from the root of Nykaa.
History of Nykaa:
Falguni Nayar introduced Nykaa in 2012 and she also promotes the FSN e-commerce venture. Nykaa is an eCommerce Indian company and its headquarters is located in Mumbai. It became the first unicorn firm in India to have a female CEO in 2020.
The business switched from an online-only to an omnichannel approach in 2015 and started selling items other than cosmetics. By 2020, it will sell 200,000 products from over 2,000 brands on all of its platforms.
According to reports of real estate data analytics firm CRE Matrix, Nykaa leases office space for five years that is spread across 55,146 sq. ft. at Lower Parel in Mumbai for Rs 70 lakh per month.
Let’s dive deeper to understand the office space and infrastructure of Nykaa real estate property in Mumbai….
From Marathon Realty Private Limited, these floors have been leased. For a monthly rent of Rs 41.15 lakh, the second and third floors of Lower Parel’s Marathon Chambers A IT/ITeS Park have been leased. It was purchased with an Rs. 1.02 crore security deposit. 23,927 square feet are rented in total.
According to the Leave and Licence agreement paperwork, it has 16 parking spaces. The contract was agreed upon for a term of 60 months and includes a condition for a 15 percent rent increase after 36 months.
On August 25, the two papers were registered. Additionally, the business has leased from Marathon Realty Private Limited the 27th floor situated in the A Wing of the IT/ITES Park, Marathon Futurex at Mafatlal Mill Compound, Lower Parel. 10,539 square feet is the entire area.
The introductory monthly rent is Rs. 27.82 lakh. The records indicated that there are eight parking spaces on this floor. Both transactions have a total carpet size of 34,467 square feet, and the billable area is 55,146 square feet. Marathon Realty Private Limited and Nykaa’s legal counsel did not respond.
A recent IPO by Nykaa Retail brought in about Rs 5,350 crore. The IPO was a tremendous success and received 82 subscriptions. According to Bappaditya Basu, Chief Business Officer of ANAROCK Commercial, “the company’s funds raised were intended at covering capital expenditure requirements and expanding operations in the emerging areas.”
Since a few years ago, India’s e-commerce market has been flourishing, and the recent lockdowns brought on by the epidemic boosted demand for online purchasing. Businesses like Nykaa Retail stand to gain from this, and he said that commercial office space in Mumbai is very essential to support increased operations and meet the increased demand.
Basu remarked in response to Nykaa Retail’s most recent lease at Lower Parel that the monthly rental for the arrangement comes to about Rs 125 per square foot. This appears to be a fantastic offer, maybe at a tiny reduction due to the location.
Lower Parel is one of the top locations for offices in Mumbai, and it provides convenient access to both the road and the train system for commuters, he continued. The business rented 27,000 square feet of office space in Prabhadevi, south Mumbai, in February of this year for at least Rs 65 lakh per month for five years.
Nykaa e-Retail rented Unit A on the sixth level of the Cynergy IT Park in Prabhadevi’s Appa Saheb Marathe Marg. The initial three years’ rent was Rs 65,92,104 per month, and the fourth- and fifth years’ costs will be Rs 75,80,920 per month.
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