Nykaa had a strong market debut in November 2021.Bengaluru: 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 ($6.32) for innerwear, will look at ethical manufacturing, subscription options and trials in some cases, is available for sale on its app and website.By 9:59 am, FSN shares were up 4.41% at Rs 1,464.80.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.
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