Nykaa Shares Up 3% on OpenAI Partnership for AI Shopping

Nykaa shares rose over three percent today after the beauty retailer partnered with OpenAI. This collaboration will allow consumers to discover and shop Nykaa products directly through ChatGPT. Nykaa's parent company, FSN E-Commerce Ventures Ltd, saw its stock climb over three percent to 280 rupees 65 paise in morning trade. This integration means Nykaa Beauty and Nykaa Fashion storefronts will be connected apps within ChatGPT. Indian users can access Nykaa's catalogue directly in the chat interface. Queries about skincare, cosmetics, beauty products, and fashion will bring up recommendations from Nykaa, without needing to switch apps or websites. This partnership uses OpenAI's Agentic Commerce Protocol. Nykaa also plans to use OpenAI's technology internally, rolling out ChatGPT Enterprise across various teams. They will also adopt OpenAI's Codex coding agent for engineering teams. This move could create a new customer acquisition channel and strengthen customer engagement for Nykaa.