scorecardresearch
Add as a preferred source on Google
Saturday, October 11, 2025
Support Our Journalism
HomeIndiaSix executives quit India's Nykaa, CEO Nayar to spearhead marketing

Six executives quit India’s Nykaa, CEO Nayar to spearhead marketing

Follow Us :
Text Size:

By Aditya Kalra
NEW DELHI (Reuters) – Six executives, including the marketing head, of India’s cosmetics-to-fashion retailer Nykaa have resigned since April, the company said on Wednesday, key departures that come as competition intensifies in the fast-growing sector.

The exits include that of Chief Marketing Officer Shalini Raghavan, with Nykaa’s founder and CEO Falguni Nayar stepping up to take direct oversight of that function, given its criticality, the company said.

The others who have quit are Kingshuk Basu, a senior vice president (VP) for retail; Sumant Kasliwal, senior VP in the fashion unit; Aditya Sandhu from the business-to-business sales unit; VP Sachin Kataria from the e-commerce business; and Shantanu Prakash, VP for marketing and communications.

“Leadership roles are being augmented with an eye on strategic realignment, cost rationalization and growing complexity of the business,” Nykaa said in a statement when Reuters asked about the departures

It did not say why the executives had left.

Nykaa offers beauty products on its website and at stores, competing with rivals Tata Group and Reliance, both of which have interests in the fast-growing $16 billion beauty and personal care market in the world’s most populous country.

In March, Reuters reported five key executives had quit Nykaa, including its chief commercial operations officer and the CEO of its wholesale business.

Nykaa’s said on Wednesday that it elevated Shailendra Singh as business head for physical retail – beauty, in June.

Shares of Nykaa parent, FSN E-Commerce Ventures, have fallen nearly 60% from their listing price in November 2021.

FSN reported a 71.8% drop in net profit for the January-March 2023 quarter, but an almost 50% rise in pre-tax profit.

Its investor presentation said it recorded a 4% growth in core employees, or business executives, in that period, compared to 17% and 25% growth in the previous two quarters.

(Reporting by Aditya Kalra; Additional reporting by Indranil Sarkar and Navamya Ganesh Acharya; Editing by Savio D’Souza)

Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibilty for its content.

Subscribe to our channels on YouTube, Telegram & WhatsApp

Support Our Journalism

India needs fair, non-hyphenated and questioning journalism, packed with on-ground reporting. ThePrint – with exceptional reporters, columnists and editors – is doing just that.

Sustaining this needs support from wonderful readers like you.

Whether you live in India or overseas, you can take a paid subscription by clicking here.

Support Our Journalism

  • Tags

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular