Shares of FSN E-Commerce Ventures (Nykaa) dropped over a percent on Friday, after the beauty product retailer informed about the resignation of Reena Chhabra, Chief Executive Officer of its beauty private label.

Share Market Live

NSE

Chhabra's resignation is effective from August 16, 2022, Nykaa said in an exchange filing.

Chhabra had earlier worked with cosmetic brand Colorbar as Chief Operating Officer. She has also led Lakme Beauty Services at Unilever and worked with Kaya Skincare, among other retail brands.

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

Also Read |

From Nykaa to Oban to Van Huesen — Jockey's fiefdom is facing a threat like never before

At 9:25 am, shares of Nykaa were trading 0.9 percent lower at Rs 1,405.1 on the BSE.

Parent company FSN E-Commerce Ventures reported a 41 percent year-on-year (YoY) rise in consolidated revenue from operations to Rs 11,484 million in April-June, while net profit was up 42 percent to Rs 50 million.

Anchit Nayar, Chairman and Chief Executive Officer of Nykaa E-Retail, told CNBC-TV18 that the company was getting into the festive season with the July-September and the October-December quarters. "We are very optimistic for what lies ahead for the rest of the year,” he said.

Catch up on all LIVE stock market updates here.