INSUBCONTINENT EXCLUSIVE:
Nykaa has not named Tata Digital in the petition.2 min read Last Updated : Sep 05 2024 | 9:15 AM IST
Beauty and fashion major Nykaa has
sued its former Chief Business Officer Gopal Asthana, now associated with Tata Cliq, for alleged breach of confidentiality and attempting to
harm Nykaa's business, The Economic Times reported on Thursday.
According to the report, Nykaa alleged that he contacted former Nykaa
employees, encouraging them to join Tata Cliq
Some of these employees have switched jobs over the past year.
Currently, Asthana heads Tata Cliq, the digital fashion business of the
LinkedIn profile, he has previously worked with Future Group and Shoppers Stop, where he spent over 21 years
He was with Nykaa for more than three-and-a-half years, starting in November 2019.
In its lawsuit, Falguni Nayar-led Nykaa has sought a
refund of approximately Rs 19 crore for employee stock options used by Asthana and an additional Rs 5 crore
On Wednesday, the Bombay High Court issued an interim order prohibiting Asthana from recruiting Nykaa executives for Tata Cliq.
Nykaa has
not named Tata Digital in the petition.
Results of Nykaa and Tata Cliq
In the first quarter of the financial year 2024-25 (FY25),
beauty sales and steady fashion performance, the company said
Its revenue from operations grew 23 per cent Y-o-Y to Rs 1,746 crore, and earnings before interest, taxes, depreciation, and amortisation
report.First Published: Sep 05 2024 | 9:15 AMIST
