Seasoned business leader Vikas Gupta has been appointed as CEO by VLCC just months after private equity firm Carlyle acquired majority stake in the 3-decade old company.
Seasons business executive Vikas Gupta is the former CEO of leading beauty products brand Nikaa’s wholesale arm SuperStore. He was appointed by skincare and cosmetics leader VLCC as its new Group CEO this week. The move comes just months after private equity firm Carlyle acquired a majority stake in the over 3-decade-old brand in December last year.
Vikas Gupta is a seasoned leader with over two decades of FMCG experience. He spent over 20 years with FMCG giant Unilever holding top positions in India and abroad. In 2019, he moved to Walmart-owned Flipkart as its Chief Customer and Marketing Officer. In 2021, he joined billionaire Falguni Nayar’s Nykaa to lead the company’s SuperStore by Nykaa.
Vikas Gupta was reportedly among five senior executives who had recently resigned from Nykaa. Apart from Gupta, the executives who had resigned included chief business officer of Nykaa Fashion Gopal Asthana, business head Shuchi Pandya, finance head Lalit Pruthi and chief commercial operations officer Manoj Gandhi. Nykaa had termed the resignations as “voluntary and involuntary exits” which are “expected in a fast-paced, growth-focused, consumer tech organisation with over 3,000 on-roll employees”.
Vikas Gupta did his schooling from Karnal in Haryana before pursuing a mechanical engineering degree from the Delhi College of Engineering. He then earned an MBA degree from the prestigious Indian Institute of Management (IIM), Lucknow. Vikas, who once led Unilever’s largest single-category brand with $4 billion turnover, joined VLCC as Group CEO to oversee its business spread across skincare, beauty and wellness.
VLCC was founded by Vandana Luthra back in 1989 and was owned and run by her along with her husband Mukesh Luthra. It was reported in January 2023 that investment firm Carlyle had acquired a majority stake in VLCC. While the financial terms of the deal were not disclosed, reports citing sources had pegged it at around Rs 2,453 crore ($300 million) for around 70 percent stake. Founders Vandana and Mukesh Luthra continued to hold a significant stake in the company and joined hands with Carlyle to strengthen the management team. The appointment of FMCG veteran Vikas Gupta as Group CEO follows months after VLCC embarked in the new direction.
(Inputs from agencies)
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 "Meet Vikas Gupta, IIM alumnus part of recent ‘voluntary and involuntary exits’ at Nykaa, appointed CEO of…")
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