Nykaa CEO Falguni Nayar to guide marketing function after CMO quits

New Delhi: Nykaa's Founder and CEO Falguni Nayar has stepped in to "guide" and steer the marketing function directly, following the resignation of Chief Marketing Officer Shalini Raghavan.

Raghavan is among few executives who have stepped down over the last six months, people familiar with the developments said.

When contacted, Nykaa in an e-mailed statement said, "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 company said.

As Nykaa evolves into a multi-dimensional, multi-geographic business, leadership roles are being augmented with an eye on strategic realignment, cost rationalisation and the growing complexity of the business, according to the company.

As part of these developments, in June the company elevated Shailendra Singh as Business Head for Physical Retail - Beauty, while he continues to lead key omnichannel initiatives.

"With over 16 years of rich experience with Hindustan Unilever, Shailendra has been an integral part of Nykaa, leading its Beauty e-comm Brand Management for the past 18 months," it said.

The changes at omnichannel beauty and fashion retailer come amid rising competition in the rapidly-growing Indian market.

"We're excited to bring a strategic leader in Rozita Nouruzi as the CEO of Nysaa, our omnichannel beauty business in partnership with the Apparel Group in the GCC," it added.

The company said it has also hired a new leader to drive the next phase of growth for Nykaa Fashion's owned western-wear brands.