Nihir Parikh Steps Down as Nykaa Fashion CEO Amid Leadership Shake-Up

Nihir Parikh, CEO of Nykaa Fashion, has resigned effective immediately, marking another significant leadership exit for the e-commerce platform. This follows a series of high-level departures as Nykaa undergoes restructuring to address market challenges, including intensified competition and declining margins. Founder Falguni Nayar has assumed direct control of key areas, emphasizing strategic realignment and operational efficiency. Nykaa faces competition from major players like Reliance Retail and AJIO, as it aims to strengthen its position in beauty and fashion e-commerce.