Nykaa Fashion CEO Nihir Parikh steps down
Nihir Parikh joined Nykaa as a chief strategy officer.
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Nihir Parikh, who led Nykaa's NykaaFashion.com and NykaaMan as chief executive officer, has stepped down from his position and has been relieved from his duties, announced FSN E-Commerce Ventures, parent company on Nykaa in a regulatory filing to stock exchanges.
It read, "In compliance with Regulation 30 of the SEBI (LODR) Regulations, 2015, this is to inform that Mr. Nihir Parikh, CEO- Nykaa Fashion.com and a Senior Management Personnel of the Company, has tendered his resignation, on account of personal commitments. The resignation will be effective the close of business hours of December 05, 2024."
Parikh, who holds an MBA from INSEAD, began his career at Genentech as engineer and went on to work across GE Healthcare. He started off as a bioprocess manager.
He joined Nykaa as a chief strategy officer, where he supported Nykaa’s Series B funding of $9.5M in Oct 2015, guided product and tech till June 2016 and supported HR till Nov 2017.
During his tenure of nearly a decade at Nykaa, Parikh contributed to Nykaa’s expansion into the fashion and men’s grooming categories through the launch of Nykaa Fashion and NykaaMan. He also supported initiatives in digital transformation, enhancing the platform’s technological capabilities and customer experience. His efforts helped strengthen Nykaa’s omnichannel presence and establish valuable partnerships, contributing to the company’s journey as a trusted market leader, stated the company in a statement.
Reflecting on his time at Nykaa, Parikh shared, “The past decade at Nykaa has been an extraordinary journey, filled with milestones and unforgettable moments. I am deeply grateful to Ms. Falguni Nayar for her steadfast support and trust—it has been an honor to work under such an inspiring leader. To my team and partners, your commitment, collaboration, and friendship have been invaluable, shaping every success we’ve achieved together. As I step into new opportunities, I carry immense pride in being part of Nykaa’s story and look forward to seeing the company’s continued growth and success.”
Falguni Nayar, Founder and CEO of Nykaa stated, “Nihir has been an integral part of Nykaa’s journey, contributing significantly to our growth in Nykaa Fashion and NykaaMan. We are grateful for his unwavering dedication and the lasting impact he has had on the team and business. As he embarks on new opportunities, we remain excited about the future and are confident that the team will continue to build on the momentum Mr. Parikh has helped us create. We wish him all the best and look forward to his continued support as a valued Board member.”
Nykaa recently announced the appointment of Abhijeet Dabas as Executive Vice President and Business Head - Fashion eCommerce. Dabas will focus on driving Nykaa Fashion’s online growth, expanding its global footprint, and building strategic partnerships, including alliances with retailers like Foot Locker and REVOLVE, to further strengthen Nykaa’s presence in the fashion e-commerce space.
Dabas has worked across Adobe Systems, McKinsey & Company, Myntra Jabong, Lazada Group, Swiggy and CARS24.
As the former vice president, head of business - new supply (Private Brands, Brandworks), Dabas led the expansion of the cloud kitchen network to 20+ cities and 1000+ kitchens in less than two years. He drove revenue growth through strategic partnerships, menu innovation, targeted marketing, and hyperlocal market insights. He oversaw large scale operations transformation to a centralised cooking model in the middle of COVID, while retaining quality.
