Nykaa Fashion CEO Nihir Parikh quits with immediate effect

Nykaa Fashion chief executive officer Nihir Parikh has resigned

Nykaa Fashion chief executive officer Nihir Parikh has resigned and has been relieved with immediate effect, a regulatory filing said on Thursday.

Nykaa Fashion is the fashion vertical of FSN E-commerce Ventures Ltd. ”Nihir Parikh has resigned effective December 05, 2024, on account of personal commitments. He has been relieved from the services w.e.f. (with effect from) close of business hours of December 5, 2024,” FSN E-commerce Ventures said in the filing. The fashion vertical accounts for less than 10 percent of the company’s revenue.

The beauty segment of the company accounts for the majority of the revenue. Nykaa Fashion is still a loss-making vertical. The company has posted a consolidated net profit of Rs 12.97 crore and revenue of Rs 1,874 crore for September 2024 quarter.