Nykaa CEO Falguni Nayyar to handle brand’s marketing function
Shalini Raghavan recently stepped down as the brand’s CMO
Falguni Nayyar, Founder and CEO of Nykaa will be spearheading the marketing function for the cosmetics brand in the wake of Shalini Raghavan stepping down as the CMO.
Raghavan was associated with the brand for more than 2.5 years, according to recent media reports.
Six top-level executives have quit Nykaa since April 2023.
Other than Raghavan, 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.
Asked about the exit, the brand shared a statement stating, “As Nykaa evolves into a multi-dimensional, multi-geographic business, leadership roles are being augmented with an eye on strategic realignment, cost rationalization and growing complexity of the business.”
The company further added, “Given the criticality of the marketing function to One Nykaa, Founder and CEO, Falguni Nayar will guide the function directly.”
