Two brands gained exactly 2.70 percentage points of Nykaa's orders this quarter. Mars, at an average product price of INR 224. And Bobbi Brown, at INR 2,572.
Bobbi Brown held 0.08% of Nykaa orders in Q2 2025. It now holds 2.77%.
Sort every brand on the platform by what it charges, and the pattern is hard to miss. The brands gaining share sit at one end or the other. The brands losing it are almost all bunched between INR 300 and INR 450.
33.1
At the cheap end: Mars added 2.70 points at INR 224, Nykaa's own label 0.95 at INR 273, Insight 0.59 at INR 185, Bronson Professional 0.27 at INR 158.
At the expensive end: Bobbi Brown 2.70 at INR 2,572, Forest Essentials 1.24 at INR 1,596, Estée Lauder 0.91 at INR 3,445, Clinique 0.65 at INR 2,302, Tonymoly 0.96 at INR 580.
Now the other side. Dot Key fell 2.41 points at INR 381. Lakmé fell 1.66 at INR 344. The Derma Co 1.03 at INR 384. Plum 1.01 at INR 415. Simple 1.01 at INR 408. Vaseline 0.93 at INR 348. Mamaearth 0.78 at INR 336. Aqualogica 0.53 at INR 426. Pond's 0.52 at INR 296.
Nine of the ten largest declines are priced within INR 150 of each other.
33.2
Two exceptions are worth naming. L'Oréal gained 1.45 points at INR 775, the only real winner in the middle band. And MAC lost 0.89 points at INR 1,983, the only prestige brand going backwards while Bobbi Brown, Estée Lauder and Clinique all advanced. Prestige is not rising as a block. Specific prestige brands are.
The mid-price segment on Nykaa is where the mass-market D2C brands built their positions between 2021 and 2024. Dot Key, The Derma Co, Plum, Mamaearth and Aqualogica all launched into roughly the same INR 350 to INR 450 window. All five moved the same way this quarter.
For a brand sitting in that band, the practical question is which direction to move. For a brand at either extreme, the competitive set just got shallower in the middle and more crowded at your own end.
Tags: Beauty · Nykaa · Brand share · Pricing · Q2 2026 · Consumer panel data · D2C
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