Desai was the CEO of the consulting firm Future Brands for almost 17 years, as well as the president of the advertising company McCann. He has played a key role in building significant brands for various local and international organizations.
Desai currently serves on the boards of Think9 Consumer Technologies, Dainik Jagran Group and Breakthrough. An alumnus of IIM Ahmedabad, he is also a member of the governing boards of Mudra Institute of Communication, Ahmedabad and Praxis Business School, Kolkata.
“Santosh’s experience in understanding the intertwined relationship between culture and brands has helped build several iconic brands… We are confident that Santosh’s strategic guidance will facilitate guide our vision to enhance the value of the Nykaa brand and strengthen our existing bouquet of brands for long-term, global success ” said Nykaa founder and CEO Falguni Nayar.
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The current board of Nykaa consists of ten members.
Commenting on his appointment, Santosh Desai said, “I am excited to join Nykaa as an independent director. With a customer-centric approach to retail, Nykaa has helped transform the beauty and lifestyle landscape in India. I look forward to contributing to the continued success and growth of this lively organization, using my experience in brand strategy and advertising to facilitate shape its very promising future.” The company reported a 28% year-on-year escalate in operating revenue to Rs 1,667 crore for the quarter ended March 2024, while net profit more than quadrupled to Rs 9 crore. The escalate in operating revenue was driven by 24% growth in core cosmetics and personal care (BPC) business to Rs 1,388 crore.
