Nykaa’s FSN Brands CEO Reena Chhabra resigns

The company said in a regulatory filing that Reena Chhabra, chief executive officer of Nykaa’s private label division FSN Brands, has resigned with effect from August 16, 2022.

Chhabra has previously worked with cosmetic brand Colorbar as COO. She has also headed Lakme Beauty Services at Unilever and worked with Kaya Skin Care among other retail brands.

stands to make umbrella 250 crore with 2.1 million shares and 0.12 million Employee Stock Options (ESOPs), Mint reported in 2021. She has been associated with FSN Brands since May 2016. The total remuneration he was paid in FY21 3.06 crore as per the draft Red Herring Prospectus (DRHP) filed by the company.

Meanwhile, Nykaa’s June quarter (Q1FY23) profit jumped 33% year-on-year. 4.55 crore against 3.41 crore in the corresponding quarter of the last financial year.

Firm’s Q1 revenue up 41% YoY 1,148.4 crore vs. 817 crore in the June quarter of the last financial year.

Nykaa said its EBITDA grew 71% year-on-year during the June quarter 46 crore, while EBITDA margin also improved to 4% versus 3.3%.

Gross profit margin improved by 380 bps year-on-year in the first quarter of FY23. The fashion retailer’s gross merchandise value, or GMV, also increased 47% year-over-year 2,155.8 crores.

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