New legal and regulation head appointed by Nykaa

• ByStartupStory     |    December 30, 2022

Sujeet Jain has been named as chief legal and regulatory officer by FSN E-Commerce Ventures Ltd, the owner of cosmetics e-retailer Nykaa. 

Jain has 25 years of expertise, primarily in the media and cement sectors, and has previously held leadership and senior management positions at firms such as UltraTech and Viacom18. He has previously worked in compliance, digital and competition legislation, corporate governance challenges, and secretarial roles.

Jain was the chief legal officer at UltraTech Cement before joining Nykaa, where he managed business transactions as well as regulatory concerns. He has also worked as a group general attorney and company secretary for Viacom18 Media. 

NyNykaa’s founder and CEO, Falguni Nayar, made the statement, “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.”

Jain’s appointment comes shortly after Arvind Agarwal’s departure as chief financial officer (CFO) in November 2022. The BPC e-tailer also reported its Q2 profits, claiming a 344% YoY increase in net profit for the quarter ended 30 September 2022 at Rs 5.2 crore, while revenue from operations increased 39% YoY to Rs 1,230.8 million. 

Falguni Nayar founded Nykaa in 2012. The beauty e-commerce shop has over 5,500 brands in beauty and fashion and receives over a billion site views every month. Nykaa’s stock concluded Wednesday’s session with a 0.8% rise, closing at Rs 150.80 per share on the BSE.

Follow Startup Story