New Delhi: Nykaa remains confident in its market position and does not anticipate heightened competition even as Chinese fast fashion giant Shein makes its return to India. Nykaa is a leading beauty and personal care (BPC) company that also operates Nykaa Fashion. Fashion is a very wide business with (categories like) women’s western wear women’s Indian wear men’s wear sportswear as well as kids and home and Shein is only in one category (womens western wear)... The market is very wide and no one brand can dominate it. So I do believe that it should not have much of an impact” Nykaa founder and CEO Falguni Nayar told analysts after announcing the company’s December quarter results on February 10. Nayar further added that Nykaa has more than 4000 brands listed on the platform which she believes is a large enough assortment to ward off competition from a company like Shein that specialises in categories such as womens western wear and fast fashion. Abhijeet Dabas executive vice president and business head at Nykaa Fashion said Trends in fast-fashion change very quickly. We have also seen a proliferation of several D2C brands specifically in categories like women’s western wear… The demand is very wide and so is the number of brands supplying that demand. It is still a very large playing field. So we do not see a massive impact. Shein Back In India: Shein was relaunched recently in India through a deal with Reliance Retail. Reliance has also developed a new app for the brand which will be available on Google Play Store and Apples App store. Nykaas management believes that its strong brand recall will provide a competitive edge but the company also recognizes the need for more aggressive advertising and marketing to maintain its market position. In the quarter marketing expenses rose to 30.5% of net sale value (NSV) up from 24.6% a year ago driven by increased investments in campaigns events and rising customer acquisition costs. Some of the growth in the near-term got affected due to a marketing strategy that was followed which was a bit narrower and some of those experiments in the early days set us back a quarter or so. But we do not think this is a long-term issue Nayar said to MoneyControl. According to Nayar Nykaa Fashion is among the top three platforms preferred by customers in India. “We do believe that we are one of the top three platforms of choice besides Myntra and Ajio and we remain in customer consideration. We remain very positive about the business” she said to MoneyControl.