How did Nykaa BEAT Amazon & Flipkart in e-Commerce War? : Business case study

How did Nykaa BEAT Amazon & Flipkart in e-Commerce War? : Business case study

On October 28, 2021, Nykaa opened its gates for its initial public offering!
And as we all know the most fascinating thing about NYKAA is that in spite of delivering 17.1 million orders, in spite of operating 80 offline stores in 40 cities, Nykaa has managed to generate a profit of 62 cr in 2021. And this makes Nykaa one of the very few e-commerce companies that actually made a profit!!
So the question is, How did Nykaa achieve profitability in spite of operating at such a huge scale?
What are the strategic advantages, Nyaaka has over Myntra and Amazon?
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