Online fashion retailer Nykaa has appointed Rajesh Uppalapati as its chief technology officer to strengthen its position as a consumer tech platform, the company said in a statement on Friday.
Uppalapati will replace Sanjay Suri, who had joined the role in 2016.
With an experience of over 20 years, Uppalapati had earlier worked as vice president of product engineering at Intuit India. Prior to that, he was with Amazon in various roles, the statement added.
“…we are extending our offerings across multiple business verticals and platforms and continue to prioritize elevating consumer experience, product discovery and hyper-personalization,” said Falguni Nayar, the founder and chief executive officer at Nykaa.
Set up in 2012 by investment banker-turned-entrepreneur Nayar, its online marketplace sells products for both women and men in categories including skincare, haircare, fragrances, bath and body, and luxury products. Nykaa also has in-house brands such as Nykaa Naturals, Nykaa Cosmetics and Kay Beauty.
Nykaa, run by FSN E-Commerce Ventures Ltd, is an omnichannel lifestyle retailer with more than 4,500 brands, and a network of 112 retail stores.
The appointment comes at a time when Nykaa’s shares trade at about Rs 989.15 on the National Stock Exchange in early trade, about 11% lower than its IPO issue price of about Rs 1125.
Nykaa made a strong market debut last year in October when the company’s stock was listed with a 79% premium on the issue price at Rs. 2,001 per share on the BSE.
In an acquisition spree, the company had bought lifestyle discovery platform Little Black Book for an undisclosed sum in August. In April, it had announced three strategic investments in Earth Rhythm, Nudge Wellness and Kica to boost its beauty & clothing portfolios.
