MAM
NK Proteins appoints Priyam Patel as MD
Mumbai: NK Proteins Pvt Ltd, a leading edible and non-edible oil company and owner and marketer of a popular edible oil brand ‘Tirupati’, has appointed Priyam N Patel as the managing director of the company. Priyam served as the chief operating officer (CEO) of the company prior to his elevation to the post of managing director of the company.
In his new role, the 34-year old dynamic leader from the promoter family will continue to spearhead NK Proteins Pvt Ltd to newer heights under the able guidance of the company’s visionary chairman and managing director Nimish Patel, who co-founded NK Proteins Pvt Ltd with his brother and Priyam’s father late Nilesh Patel in 1992 in Ahmedabad, Gujarat.
Priyam brings with him a wealth of experience and a dynamic approach to business management. His journey at NK Proteins began at the age of 21, and since then, he has played a pivotal role in shaping the company’s growth trajectory. He holds a Masters in Marketing from the University of Westminster, London, complemented by development programmes from prestigious institutions such as the London Business School, ISB Hyderabad, Indian Institute of Management (IIM-A), and MICA, Ahmedabad. He completed his undergraduate studies in Corporate Management from Symbiosis Centre for Management Studies (SCMS), which laid a strong foundation for his career trajectory.
Welcoming the young leader to his new role, NK Proteins Pvt Ltd chairman and managing director Nimish Patel said, “Priyam’s leadership embodies determination, foresight, and an unwavering commitment to excellence. Priyam has played a pivotal role in steering NK Proteins towards becoming a trusted household brand known for its quality and reliability. His strategic insight and innovative strategies have not only bolstered the brand’s visibility in the market but also fuelled its continuous growth and prosperity”.
Talking about his new role in the company, Priyam Patel, said, “As we navigate the competitive landscape of edible and non-edible oil market, I believe that by focusing on delivering high-quality products and exceptional service to our customers, we can achieve sustainable growth and create long-term value for our customers and stakeholders. Together, we will embrace new opportunities and overcome challenges, solidifying our position as a leader in the industry. Backed by strong management and supported by highly motivated workforce, NK Proteins is poised to scale new heights and emerge as a new age, innovation-led edible oil company in future”.
Brands
Estée Lauder to shed 10,000 jobs as new boss bets on digital shift
The cosmetics giant raises its profit outlook but stays silent on a possible merger with Spain’s Puig, as job cuts deepen and a three-year sales slump weighs on the turnaround
NEW YORK: Stéphane de La Faverie is not done cutting. Estée Lauder announced on Friday that it plans to eliminate as many as 3,000 additional jobs, taking its total redundancy programme to as many as 10,000 roles, up from a previous target of 7,000 announced a year ago. The company, which owns La Mer, The Ordinary, Tom Ford, and Aveda, employs roughly 57,000 people worldwide. The mathematics of what is now being contemplated is stark.
The fresh round of cuts is expected to generate a further $200 million in savings, bringing the total annual savings from the programme to as much as $1.2 billion before taxes. That money, De La Faverie has made clear, will be ploughed back into the turnaround.
A CEO in a hurry
De La Faverie, who took the helm in January 2025, inherited a company that had endured three consecutive years of annual sales declines. His response has been to move fast and cut deep. A significant portion of the latest redundancies reflects his push to reduce headcount at US department stores, long a cornerstone of Estée Lauder’s distribution model but now a channel in structural decline. In their place, he is accelerating the shift toward faster-growing online platforms, including Amazon.com and TikTok Shop, a pivot that is reshaping not just where Estée Lauder sells but how it thinks about its customers.
The numbers are moving in the right direction
Despite the pain, there are signs the medicine is working. Estée Lauder raised its profit outlook for the remainder of the fiscal year, guiding for adjusted earnings per share in the range of $2.35 to $2.45, above analyst estimates and a notable step up from the $2.05 to $2.25 range it had guided for in February. Organic net sales growth is expected to come in at 3 per cent, the company said, at the high end of the range it set out in February.
The share price tells a mixed story. After De La Faverie took charge, the stock surged nearly 60 per cent, buoyed by investor optimism that a longtime company insider could finally arrest the decline. But 2026 has been rougher: the shares have fallen 27 per cent this year, weighed down by disappointing February results and the overhang of unresolved merger talks with Spanish beauty giant Puig Brands SA. The company gave no additional details about those discussions on Friday, leaving the market to guess.
Silence on Puig
The proposed tie-up with Puig remains the most consequential unknown hanging over Estée Lauder. A deal with the Barcelona-based group, which owns brands including Carolina Herrera and Rabanne, would reshape the global luxury beauty landscape. But with nothing new to say and a turnaround still very much in progress, De La Faverie is asking investors to trust the process.
Three years of sales declines, 10,000 job cuts, and a merger that may or may not happen. At Estée Lauder, the overhaul has barely started.
