Leadership Shake-Up: Nykaa Fashion CEO Nihir Parikh Steps Down

Nihir Parikh, the CEO of Nykaa Fashion, resigns effective December 5, 2024. He will remain on the board while Abhijeet Dabas takes over as Executive Vice President to drive online growth and strategic partnerships. Nykaa Fashion, a section of FSN E-commerce, is currently loss-making.

Nihir Parikh, the Chief Executive Officer of Nykaa Fashion, has stepped down with immediate effect, according to a regulatory filing by the company. His resignation, effective December 5, 2024, is due to personal commitments.

Despite his resignation, Parikh will retain a seat on Nykaa Fashion's board of directors, allowing him to continue contributing to the company's strategic direction. Nykaa Fashion remains a loss-making segment, representing less than 10% of FSN E-commerce Ventures Ltd's revenue.

To bolster the company's fashion vertical, Nykaa has appointed Abhijeet Dabas as Executive Vice President and Business Head of Fashion eCommerce. Dabas will focus on enhancing Nykaa Fashion's online presence and forging partnerships with key retailers like Foot Locker and REVOLVE.

(With inputs from agencies.)