Nykaa has announced that Nihir Parikh has stepped down from his role as chief executive officer. 

Parikh said he was stepping down on account of personal commitments.

His exit comes at a time when the fashion segment of Nykaa is experiencing a slowdown amidst its Q-comm initiatives. 

The Company places on record its appreciation for the invaluable contribution provided by Parikh during his long association over the years with the Company. 

He had joined Nykaa on 6 May 2015 as chief strategy officer. Parikh was elevated as CEO in 2023. 

In a career spanning over 18 years, he has also worked with GE Healthcare and Genentech.