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India’s Nykaa expects festival season to boost demand

BENGALURU (Reuters) -Indian cosmetics-to-fashion retailer Nykaa said on Friday it expects stronger demand for its products in the current quarter after a ‘subdued season’ where inflationary pressures dented consumer spending. The upcoming festival season, which extends till the end of the year, would further boost consumer demand for beauty, personal care and wellness products, that Nykaa said was already showing early signs of recovery. “We remain cautiously optimistic and believe the season may be good and hopeful of strong demand,” Nykaa CEO and Managing Director Falguni Nayar said on a post earnings call, after the last quarter that she defined as a “subdued season”.