Nykaa, the beauty and fashion ecommerce major, has appointed Abhijeet Dabas as Executive Vice President and Business Head for its fashion segment. Dabas joins Nykaa from Cars24, where he served as South East Asia head.
Abhijeet’s leadership will be instrumental in our growth – Falguni Nayar
“As we continue to revolutionise the fashion e-commerce experience for Indian consumers, Abhijeet’s leadership will be instrumental in driving our growth strategy and strengthening our market position,” said Falguni Nayar, Nykaa’s CEO, according to INC42.
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Notably, Dabas brings over a decade of experience, having worked at Swiggy, Myntra, and McKinsey & Company. His role at Nykaa will focus on boosting online growth, expanding global footprint, and building strategic partnerships.
Meanwhile, the appointment follows Nykaa’s impressive Q2 FY25 financial performance, where consolidated net profit surged by 66.3% to INR 12.97 crore and revenue from operations grew by 24.4% to INR 1,874.74 crore.
Nykaa targets 2-hour delivery, moves from 10-minute model
Further, Nykaa is enhancing its delivery options, aiming for 30-minute to 2-hour delivery for select beauty products. The company boasts same-day and next-day delivery logistics that cover 80% of deliveries in the top 12 cities and 70% coverage in the top 110 cities.
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On November 13, Nykaa allotted 1.80 lakh equity shares to employees under its Employee Stock Option Plan.
At 2:52 PM, Nykaa shares traded at INR 170.80 apiece on the BSE, 3.86% lower than the previous close.
