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Nykaa Fashion CEO Nihir Parikh has stepped down from his position, citing personal commitments as the reason for his resignation.

The company has not yet announced a successor for Parikh. His resignation comes into effect from the close of business hours on December 5.

“The Company places on record its appreciation for the invaluable contribution provided by Mr. Nihir Parikh during his long association over the years with the Company,” the company said in a filing to the exchanges.

Nykaa recently appointed Abhijeet Dabas as the executive vice president and business head of fashion ecommerce. Dabas was appointed to helm Nykaa Fashion’s online growth strategy, expanding the platform’s global footprint and building strategic partnerships.

The beauty and personal care marketplace saw its net profit grow 66% year-on-year (YoY) to Rs 12.97 crore in the second quarter of FY25, aided by festive demand. 

Nykaa’s parent FSN E-Commerce Venture clocked a 24% YoY growth in operating revenue at Rs 1,874.7 crore, compared with Rs 1,507 crore in the second quarter of FY24, according to exchange filings. The Falguni Nayar-led company posted a 24% YoY growth in gross merchandise value GMV at Rs 3,652 crore during the three months ended September 30, 2024.