Indian fashion and cosmetics brand Nykaa has announced the appointment of Vishal Gupta as Executive Vice President for its consumer beauty brands.
Gupta, an alumnus of IIT Delhi and IIM Bengaluru, has over three decades of expertise in the FMCG industry. He joins Nykaa after 25 years at Unilever, where he led large-scale campaigns. Gupta has worked with companies and brands in India, Indonesia, Southeast Asia and Russia. He will oversee Nykaa’s private label operations in cosmetics and skincare.
Gupta’s appointment comes just a day after Reena Chhapra, CEO of Nykaa’s private label division, announced her resignation.
He is a pillar of market development domestically, having driven sweeping brand transformations that have led to profitability and better value for consumers and the business.
Falguni Nayar, Founder and CEO of Nykaa, said, “Nykaa’s own beauty brands have been built on the principles of quality, authenticity and inclusivity. Vishal now has the responsibility to carry on his rich heritage and take the Nykaa brand to even greater heights and into the hearts of more consumers. With his wealth of industry experience and passion for the beauty space, we are excited to see what Vishal has to offer.
Earlier this month, Nykaa announced the launch of a Beauty & You India incubation program in collaboration with Estée Lauder Companies (ELC). Meanwhile, in the June quarter, Nykaa’s net profit rose 42% year-on-year to Rs 5 crore, while total revenue rose 41% to Rs 1,157 crore.
Commenting on his appointment, Vishal Gupta said, “I am delighted to join Nykaa to help grow its vibrant portfolio of mainstream beauty brands that have become iconic in the Indian beauty ecosystem. Inspired by Falguni’s vision, I look forward to growing existing brands and creating memorable new ones that will further contribute to meeting unmet consumer beauty needs.
Read more about business news, India news and fashion news here