Indian fashion and cosmetics brand Nykaa announced the appointment of Vishal Gupta as Executive Vice President for its Consumer Beauty Brands.
Gupta, an IIT Delhi and IIM Bengaluru alumnus, 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 one day after Reena Chhapra, CEO of Nykaa’s private label division, announced her resignation.
He is a stalwart at country-level market development, having driven clutter-breaking brand transformations that have led to profitability and better value for consumers and the business.
Falguni Nayar, Founder and CEO, Nykaa, said, “Nykaa’s own beauty brands have been built on the principles of quality, authenticity, and inclusivity. Vishal now has the responsibility of carrying on its rich legacy, and taking brand Nykaa to even greater heights, and into more consumers’ hearts. With his wealth of industry experience and passion for the beauty space, we are excited to see what Vishal will deliver.”
Earlier this month, Nykaa announced the start of a Beauty & You India incubation program in collaboration with Estée Lauder Companies (ELC). Meanwhile, in the June quarter, Nykaa’s net profit increased 42 percent year on year to Rs 5 crore, while total revenue increased 41 percent to Rs 1,157 crore.
Commenting on his appointment, Vishal Gupta said, “I am excited to join Nykaa to help build its dynamic portfolio of consumer beauty brands that have become iconic in the Indian beauty ecosystem. Inspired by Falguni’s vision, I look forward to scaling the existing brands and creating new memorable ones that will further help serve the unmet beauty needs of the consumer.”