Nykaa parent FSN E-Commerce Ventures jumps 5% after men's innerwear brand launch

New Delhi: Shares of FSN E-Commerce Ventures, the parent of cosmetics-to-fashion retailer Nykaa, jumped 4.8% on Thursday, a day after it said its fashion segment was expanding into the men`s innerwear and athleisure category with a new brand. The TPG-backed company said on Wednesday that Nykaa Fashion would launch Gloot — its first innerwear and athleisure brand for men.

The line, starting at Rs 499 for innerwear, will look at ethical manufacturing, subscription options and trials in some cases, is available for sale on its app and website. (ALSO READ: Elon Musk secretly had twins with Neuralink top executive Shivon Zilis in November 2021: Report) 

By 04:29 GMT, FSN shares were up 4.41% at Rs 1,464.80. (ALSO READ: PM Modi impressed by 11-year-old boy’s demonstration of braille device: Watch) 

Nykaa had a strong market debut in November 2021, fetching the country`s first women-led unicorn a valuation of nearly $14 billion, and topping food delivery startup Zomato Ltd`s $13.28 billion debut in July 2021.