Nihir Parikh Steps Down As Nykaa Fashion CEO Amid Business Realignment

Nihir Parikh, CEO of Nykaa Fashion, has stepped down from his role, effective December 5, 2024, citing personal commitments.

During Parikh’s tenure, Nykaa Fashion reported modest growth, with a 10% increase in gross merchandise value (GMV) in Q2. This performance was tempered by the timing of festivals and a slower uptake in ethnic wear.

The company is now pivoting toward quick commerce, piloting 10-minute delivery services in Mumbai, signalling a shift in its strategic focus.

Parikh is an alumnus of the University of Mumbai and INSEAD, with prior professional experience at Genentech and GE Healthcare.