FSN E-Commerce Ventures Ltd, the owner of beauty e-retailer Nykaa has appointed Sujeet Jain as chief legal and regulatory officer.
Jain has 25 years of experience in mainly in the media and cement sectors and has held leadership and senior management roles at companies like UltraTech and Viacom18 in the past. During his previous stints, he has worked in the areas of compliance, digital and competition laws, corporate governance issues, and secretarial functions.
Before joining Nykaa, Jain was the chief legal officer at UltraTech Cement, where he handled corporate transactions for the organization along with regulatory issues. He has also worked with Viacom18 Media as a group general counsel and company secretary.
“Sujeet brings experience in legal, regulatory and intellectual property rights (IPR) strategies as well as supporting cross-border acquisitions. At this juncture, Sujeet’s experience of working with technology-led organizations will be helpful,” said Falguni Nayar, founder and chief executive officer of Nykaa.
Jain's appointment comes shortly after Arvind Agarwal stepped down from his position as the chief financial officer (CFO) in November 2022.
The BPC e-tailer also announced its Q2 earnings in, reporting a 344% YoY jump in its net profit for the quarter ended 30 September 2022 at Rs 5.2 crore, while its revenue from operations grew about 39% YoY to Rs 1,230.8 million in the same period.
Nykaa was started by Falguni Nayar in 2012. The beauty e-commerce retailer offers more than 5,500 brands across beauty and fashion with about a billion site visits every month.
Shares of Nykaa ended Wednesday's session with mild gains of 0.8%, at Rs 150.80 apiece on BSE.