MAM
Nykaa’s new video with Blush for Karva Chauth
MUMBAI: Nykaa, in collaboration with Culture Machine’s digital channel Blush, has released a video titled Qaid featuring India’s first transsexual model Nikkiey Chawla.
The video is set against the backdrop of Karva Chauth, and showcases the start of a new tradition, one with a deeper meaning.
We are all trapped in our own cocoons, the very skin we wear sometimes feels alien to us. The quest to identify and understand who we really are is a continuous process but a road that doesn’t need to be traveled alone. Entangled in this theme, lies the story of Anusha and Kabir, a young urban couple who undergo one of the biggest changes in their relation which not only helps them understand who they are both individually and together, but also leads to strengthening their bond.
The thought that drives the struggle in ‘Qaid’ is that of gender as a defining identity and how it dictates the way we celebrate our rituals, especially how the bond of marriage is viewed through a tradition like Karva Chauth. The overarching learning the video aspires
to drive home is that, it is essential to ‘Celebrate You’ in any and every aspect of life.
”The mark of a great society begins with how deeply it acknowledges and cares about the challenges of its most exiguous minority groups. While the nation celebrates liberty for the L,G and B, let us not forget the ‘T’. Today, people need to understand the plight of nearly 21 Million strong gender dysphoric population- a number equivalent to the population of Australia. With this film, we want people to see that the difference between transsexual and transgender is the same as the one between a body and a soul. Since time immemorial, gender definition has been influenced by culture, class, and race but this idea needs an overhaul,” says Nykaa chief marketing officer Hitesh Malhotra.
Culture Machine vice president for brand solutions Sharique Khan adds, “Gender diversity has existed throughout history and across the globe. One of the most fundamental aspects of a person’s identity, gender deeply influences every part of one’s life. Where this crucial aspect of self is narrowly defined and rigidly enforced, individuals who exist outside of its norms face innumerable challenges. This does not have to be the case. Through a thoughtful consideration of the uniqueness and validity of every person’s experiences of self, we can develop greater acceptance for all. Not only will this create greater inclusion for individuals who challenge the norms of gender, it will create space for all individuals to celebrate who they are. With this common objective of creating awareness about gender dysphoria, harmoniously brought Nykaa’s vision and the storytelling of Blush together for this video.”
The video also features television actress Aakanksha Singh.
Brands
Kwality Wall’s reports standalone losses following strategic HUL demerger
Ice cream major faces Rs 64 crore Ebitda loss amid commodity inflation and muted Q3 sales
MUMBAI: Kwality Wall’s (India) Limited (KWIL) has released its first set of financial results as a standalone entity, revealing a challenging start to its independent journey. Following its successful demerger from Hindustan Unilever Limited (HUL) on 1st December 2025 and its subsequent listing on 16th February 2026, the company is navigating a transition period marked by structural changes and high input costs.
For the quarter ended 31st December 2025, the company reported revenue of Rs 222 crores. Despite the revenue base, the bottom line was impacted by several factors, resulting in an Ebitda loss of Rs 64.2 crores. When calculated on a Pre-IND AS 116 basis, the Ebitda loss stood at Rs 83.8 crores.
Organic Sales Growth (OSG) declined by 6.5 per cent year-on-year during the quarter. Volume growth, however, saw a marginal increase of 1.2 per cent. The company reported a gross margin of 41.5 per cent. Additionally, exceptional expenses amounting to Rs 94 crores were recorded, primarily linked to non-recurring costs during the transition phase.
Performance across portfolios and channels was mixed. Within the impulse portfolio, brands such as Magnum and Cornetto recorded mid-single digit volume growth, indicating steady demand in on-the-go consumption. However, the in-home portfolio, which includes take-home packs, experienced muted consumption. The company is planning a relaunch of this category with improved offerings ahead of the 2026 season.
Quick commerce (Q-Com) continued to emerge as a strong growth driver, delivering robust double-digit growth during the quarter. Meanwhile, the company also expanded its physical distribution network by increasing the number of company-owned cabinets across markets.
Margin pressure during the quarter was driven by a combination of one-off factors and broader cost inflation. Gross margins were impacted by around 600 basis points due to trade investments made for stock liquidation. Additionally, cocoa price inflation contributed to another 400 basis points of pressure on margins.
Deputy managing director Chitrank Goel attributed the muted performance partly to prolonged monsoons and transitional challenges linked to the GST framework. Operating expenses also increased as the company invested in establishing its standalone supply chain, operational systems and corporate infrastructure following the demerger.
Looking ahead, the management remains focused on a volume-driven growth strategy. To restore profitability, the company has initiated a cost productivity programme aimed at reducing non-consumer-facing costs. It is also working on building regional manufacturing networks to optimise logistics expenses and improve operational efficiency.
The commodity outlook for the near term remains mixed. Dairy prices are expected to remain firm due to tight supply conditions and rising fodder costs. Sugar prices may also move higher following increases in the Minimum Selling Price (MSP). While cocoa prices have moderated recently, currency depreciation has offset some of the potential cost relief for the company.
