Nykaa Ropes In Former Cars24 Executive As Business Head For Fashion

Beauty and fashion ecommerce major Nykaa has roped in Cars24’s former South East Asia head Abhijeet Dabas as executive vice president and business head for its fashion segment.

The appointment comes on the back of the startup posting a 66.3% jump in its consolidated net profit in the second quarter of FY25 to INR 12.97 Cr from INR 7.8 Cr in the year-ago period.

In his new role, Dabas will help in boosting the company’s online growth, expand its global footprint and build strategic partnerships.

“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 Nykaa’s chief executive officer Falguni Nayar.

With over a decade of experience, Dabas also served as the vice president and business head for the freshly listed startup Swiggy. He also worked at various leadership positions at fashion ecommerce major Myntra. His portfolio includes companies like McKinsey & Company.

This comes at a time when the company is dodging 10-minute delivery trends and targeting a delivery window of 30 minutes to 2 hours for select, high-demand beauty products. With this, the ecommerce major is mulling to offer faster delivery options, without compromising on the customer experience.

In an investor presentation, Nykaa said that its same day delivery and next-day delivery logistics cover 80% of deliveries in top 12 cities and 70% in top 110 cities of the country.  

Today (November 13), Nykaa also allotted 1.80 Lakh equity shares to its employees under Employee Stock Option Plan. However, the startup didn’t disclose any further details.

Nykaa’s revenue from operations jumped 24.4% to INR 1,874.74 Cr during Q2 of FY25 from INR 1,746.11 Cr in the year-ago period. 

At 2:52 PM today, shares of the company were trading at INR 170.80 apiece on the BSE, 3.86% lower than the previous close of INR 177.65.

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