THE WHAT? Six top executives from Nykaa, a major cosmetics and fashion retailer in India, have resigned. The list includes the Chief Marketing Officer, Shalini Raghavan. CEO Falguni Nayar has directly taken over the marketing role in her absence.
THE DETAILS The other departing executives are Kingshuk Basu (Senior VP for retail), Sumant Kasliwal (Senior VP in fashion), Aditya Sandhu (from the B2B sales unit), Sachin Kataria (VP of e-commerce), and Shantanu Prakash (VP for marketing and communications). In the meantime, Shailendra Singh was promoted to manage physical retail for beauty. Shares of Nykaa’s parent company, FSN E-Commerce Ventures, have dropped by almost 60% since their listing in November 2021.
THE WHY? Nykaa has not specified the reasons behind these resignations. The company operates in a fiercely competitive market, contending with significant players like Tata Group and Reliance in India’s expansive $16 billion beauty and personal care market. Financial data from FSN E-Commerce Ventures reveals a 71.8% drop in net profit for Q1 2023, though there was an increase in pre-tax profit. The growth of core employees at the company also decelerated.
Buy aesthetic products refers to the act of purchasing items that are specifically designed for enhancing or maintaining beauty, often related to skincare, cosmetics, or procedures in the field of aesthetics. These products can include a wide range of items intended to improve the appearance and health of the skin, hair, and body. Here are some examples of aesthetic products that individuals might purchase:
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Skincare Products: Including cleansers, moisturizers, serums, and treatments targeting specific skin concerns such as acne, aging, hyperpigmentation, and sensitivity.
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Cosmetics: Makeup products such as foundations, concealers, eyeliners, lipsticks, and eyeshadows designed to enhance facial features and achieve desired looks.
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Hair Care Products: Shampoos, conditioners, styling products, and treatments to maintain and improve the health and appearance of hair.
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Dermatological Treatments: Prescription or over-the-counter treatments for medical conditions like acne, eczema, psoriasis, or rosacea.
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Aesthetic Devices: Equipment used for professional treatments including laser devices, microneedling pens, radiofrequency devices, and IPL (Intense Pulsed Light) machines.
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Injectable Aesthetics: Products such as dermal fillers and botulinum toxin (Botox) used to enhance facial contours, reduce wrinkles, and achieve smoother skin.
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Nutritional Supplements: Supplements aimed at promoting skin health, hair growth, and overall well-being, often containing vitamins, minerals, and antioxidants.
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Home Use Beauty Devices: Devices like facial cleansing brushes, LED light therapy masks, and microcurrent devices designed for at-home skincare treatments.
