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HomeHealth & FitnessNykaa's beauty private label CEO Reena Chhabra resigns, Retail News, ET Retail

Nykaa’s beauty private label CEO Reena Chhabra resigns, Retail News, ET Retail

Nykaa's beauty private label CEO Reena Chhabra resigns

Beauty ecommerce company Nykaa informed the exchanges on Thursday that Reena Chhabra, the chief executive officer of its private label, has resigned. Her resignation will come into effect on August 16.

Chhabra earlier worked with cosmetics brand Colorbar as chief operating officer and helped the company to grow its valuation to Rs 1,000 crores in 2015. She has also been business head at Unilever’s Lakme Beauty Services and head of marketing at Kaya Skin Care.

Chhabra joined Nykaa in 2016 and was instrumental in taking its private label to more households by introducing new product lines and increasing distribution.

According to multiple reports, Chhabra stands to make ₹250 crore with 2.1 million shares and 0.12 million employee stock options (Esops).

The total compensation paid to her in FY21 was Rs 3.06 crore, according to Nykaa’s draft red herring prospectus (DRHP).

The company reported strong Q1 earnings last week, with consolidated profit up 33% to Rs 4.55 crore from Rs 3.41 crore in the corresponding quarter of last year.

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