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Six executives quit Nykaa, CEO Falguni Nayar to spearhead marketing

Economic Times

Economic Times · 2y ago

Six executives quit Nykaa, CEO Falguni Nayar to spearhead marketing

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. CEO Falguni Nayar will lead the marketing efforts. The changes signal Nykaa's dedication to strategic adjustments, potentially impacting its operations and growth trajectory in the highly competitive e-commerce industry.

Related News

Employees who left Nykaa were not in significant roles: CEO Falguni Nayar

Money Control

Money Control · 2y ago

Employees who left Nykaa were not in significant roles: CEO Falguni Nayar

Nykaa CEO Falguni Nayar clarifies that departing employees held non-significant roles. She assures that the company's leadership team remains intact, driving its growth and strategic direction. Nayar's statement addresses concerns over the impact of employee departures on Nykaa's operations and stability, reinforcing the company's commitment to its ongoing business initiatives and maintaining a strong organizational core. Nayar’s comments come at a time when Nykaa has seen a slew of top-level exits. Since April, six senior executives, including the company's chief marketing officer, Shalini Raghavan, among others have quit the company.

Quick commerce is not where Nykaa wants to jump in: CEO Nayar

Inshorts · 9m ago

Quick commerce is not where Nykaa wants to jump in: CEO Nayar

Nykaa CEO Falguni Nayar said quick commerce is more about a wider set of stock-keeping units (SKUs), which includes groceries and everyday goods. "This is not where Nykaa wants to jump in...I think what quick commerce is solving for is a very different use case," she said. Nykaa is continuously focused on improving delivery timelines, Nayar added.

Falguni Nayar Sees India's Rise As Third Largest Consumer Market Globally By 2030

OutlookIndia

OutlookIndia · 1y ago

Falguni Nayar Sees India's Rise As Third Largest Consumer Market Globally By 2030

Falguni Nayar, the CEO of Nykaa's parent company FSN E-Commerce Ventures, predicts that India will become the third largest consumer market worldwide by 2030. Nykaa plans to open its first international store in collaboration with GCC's Apparel Group. Nayar believes that India's entrepreneurial spirit and young population make it an ideal place for consumer-focused businesses. Nykaa is currently the largest beauty specialty retailer in India and has disrupted the industry through a technology-first approach. Nayar emphasized the company's commitment to sustainable growth and long-term profitability.

Nykaa Aiming To Improve Delivery Timelines, Eyes Express Deliveries In Metros

Inc42 · 1y ago

Nykaa Aiming To Improve Delivery Timelines, Eyes Express Deliveries In Metros

Nykaa's CEO, Falguni Nayar, revealed that the company's hub and spoke model and its expansion plans will enable it to provide rapid delivery services in metro cities. The CEO of Nykaa E-Retail, Anchit Nayar, added that they have successfully decreased order to delivery times by 20% over the past few years, and they will continue to invest in their hub and spoke model. Additionally, Nykaa reported a substantial 80% increase in net profit, reaching INR 69 crore in the 2023-24 financial year.

Quick commerce solution for different use cases, categories; not where Nykaa wants to jump in: Nayar

YourStory

YourStory · 9m ago

Quick commerce solution for different use cases, categories; not where Nykaa wants to jump in: Nayar

Nykaa founder and CEO, Falguni Nayar, has stated that the quick commerce model is better suited to broader product categories, such as groceries, rather than the beauty and fashion space. Although Nykaa is focused on improving delivery timelines and building an extensive network, Nayar emphasized that quick commerce is solving a different use case. She also mentioned that Nykaa aims to provide rapid and express deliveries, particularly as the industry grows and evolves towards an omnichannel approach to serving consumers. The platform currently has 35 million customers and operates in 200 stores.

Nykaa’s Focus On Building Network, Not Quick Commerce: Falguni Nayar

Inc42 · 9m ago

Nykaa’s Focus On Building Network, Not Quick Commerce: Falguni Nayar

Nykaa's CEO, Falguni Nayar, has stated that quick commerce will not be the sole business channel for the company. Instead, their focus is on expanding their network across the country, rather than just in a few cities. Recently, Nykaa launched a 10-minute delivery pilot in some areas of Mumbai.

Quick commerce is taking demand from neighbourhood stores: Nykaa's Falguni Nayar

Economic Times

Economic Times · 9m ago

Quick commerce is taking demand from neighbourhood stores: Nykaa's Falguni Nayar

Nykaa CEO, Falguni Nayar, discusses the impact of quick commerce on offline channels in the personal care category. She states that quick commerce is taking demand away from traditional neighborhood stores, but Nykaa's focus remains on enhancing speed nationwide through their own network. While beauty is one of the fastest-growing segments in quick commerce, Nayar emphasizes that Nykaa will not venture into additional categories just for the sake of ultra-fast delivery. She also highlights the importance of faster delivery across the country and Nykaa's continuous efforts to improve their network.

Nykaa has huge lead, edge to actively defend its turf: Founder Falguni Nayar

Economic Times

Economic Times · 1y ago

Nykaa has huge lead, edge to actively defend its turf: Founder Falguni Nayar

Indian retailer Nykaa, a major player in the fashion and beauty industry, is prepared to defend its position against competition from conglomerates and new entrants. Nykaa's founder and CEO, Falguni Nayar, stated that the company has a significant advantage in terms of brand recognition, customer base, and business knowledge. With the rapidly growing beauty e-commerce market in India attracting interest from large companies and conglomerates, Nykaa aims to stay focused and exceed customer expectations to retain its position. Nayar is optimistic about the future of beauty and fashion in India, citing the country's young and aspiring population and rising income levels as drivers of growth.

Nykaa ventures into international waters

Startup News FYI

Startup News FYI · 1y ago

Nykaa ventures into international waters

Indian beauty e-commerce giant Nykaa plans to expand internationally by opening its first store in Dubai this fiscal year. The company's CEO, Falguni Nayar, stated the move is a part of their international expansion strategy, partnering with the Apparel Group. Nykaa appointed Rozita Nouruzi, former head of Sephora in Saudi Arabia, to lead its GCC omnichannel beauty business. Nykaa's partnership with the Apparel Group has enabled its entry into several countries, with skincare, makeup, and fragrances expected to lead growth.

A third of Nykaa GMV in FY23 has come from new businesses: CEO Falguni Nayar

Economic Times

Economic Times · 1y ago

A third of Nykaa GMV in FY23 has come from new businesses: CEO Falguni Nayar

Around one-third of Nykaa's gross merchandise value (GMV) in the fiscal year 2022-23 came from its newer businesses, according to its CEO, Falguni Nayar. The company reported a consolidated GMV of Rs 9,743 crore and net revenue of Rs 5,143 crore during that period. Nykaa has been expanding its portfolio by launching or acquiring brands in beauty and personal care as well as fashion. The company sees potential for growth in both segments due to India's under-indexed per capita spend. In the first quarter of the current fiscal year, Nykaa reported an 8% YoY increase in net profit and a 24% increase in revenue.

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