The company, in a statement to stock exchanges, said it elevated Shailendra Singh as business head for physical retail- beauty in June, even as he continues to lead its omnichannel initiatives.
Nykaa further said it roped in Rozita Nouruzi as the CEO of Nysaa, its omnichannel beauty business in partnership with the Apparel Group in the GCC in June.
“We have also hired a new leader to drive the next phase of growth for Nykaa Fashion’s owned western-wear brands,” the firm said, without disclosing who the person is.
“As announced in April 2023, marketing leadership at Nykaa has been strengthened over the last year across performance marketing, customer lifecycle management and content charters. Given the criticality of the marketing function to One Nykaa, Founder and CEO, Falguni Nayar will guide the function directly,” the statement said.
The clarification comes after it was reported that Nykaa has seen six key departures – chief marketing officer Shalini Raghavan; 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.
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In March, five key executives had quit Nykaa, including its chief commercial operations officer and the CEO of its wholesale business.Nykaa shares were trading at Rs 144, down 2% from the previous day’s close.
FSN E-Commerce Ventures, which operates Nykaa, reported a 71.8% drop in net profit for the January-March 2023 quarter, but an almost 50% rise in pre-tax profit.