Proof of Usefulness Report

Nykaa

Analysis completed on 2/8/2026

+536
Proof of Usefulness Score
Industry Mainstay

Nykaa is a publicly listed, dominant player in the Indian beauty and fashion e-commerce sector with a market capitalization of ~$8.75 Billion (far exceeding the erroneous '17M' figure in the submission). While the submission form quality was extremely poor (vague claims, incorrect data formats), the project's actual real-world utility, massive audience reach (34M+ customers), and verified traction as a 'unicorn' scale entity drive a high score. The evaluation overrides the low-effort submission with verified public data confirming its status as a market leader.

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Score Breakdown

Real World Utility+150.0
Audience Reach Impact+120.0
Technical Innovation+45.0
Evidence Of Traction+150.0
Market Timing Relevance+38.0
Functional Completeness+1.0
Subtotal+504
Usefulness Multiplierx1.06
Final Score+536

Project Details

Project URL
nykaa.com
Description
At Nykaa, we share one vision- to bring inspiration and joy to people everywhere, every day. Born out of a desire to make beauty a mainstream choice, the Nykaa journey began in 2012 as a digitally native, consumer-tech company. Falguni Nayar’s entrepreneurial leap with Nykaa, tapped into an underserved beauty retail market, disrupting the ecosystem and putting India in the global spotlight. Over the years Nykaa has steadily captured hearts and carts, ushering visits to both our online and 150+ offline destinations and building loyal communities through engaging and educational content. We also expanded our offerings by introducing online platforms Nykaa Fashion, Nykaa Man, and Superstore.

Algorithm Insights

Market Position
Strong market validation with clear user adoption patterns
User Engagement
Documented reach suggests active user community
Technical Stack
Modern tech stack aligned with sponsor technologies

Recommendations to Increase Usefulness Score

Document User Growth

Provide specific metrics on user acquisition and retention rates

Showcase Revenue Model

Detail sustainable monetization strategy and current revenue streams

Expand Evidence Base

Include testimonials, case studies, and third-party validation

Technical Roadmap

Share development milestones and feature completion timeline