Fifties are considered to be an age where most people seem to struggle with midlife crisis. But for Falguni Nayar it was the beginning of a phenomenal business journey wherein she reenvisioned the e commerce retail for beauty and makeup in India with the launch of Nykaa.
Early Life
Falguni came from a simple family and upbringing. Her father was a businessman who ran a small bearings company. After school, she did a Bachelor’s in Commerce from Sydenham College of Commerce and Economics. Later, she got into the prestigious the Indian Institute of Management, Ahmedabad. It was perhaps from here that she acquired her exceptional analysing and marketing skills.
Corporate Career
After her MBA, Nayar joined A.F. Ferguson & Co. where she worked as a manager for around eight years. Following this she switched to Kotak Mahindra Group where she played a pivotal role in starting institutional equities operations in London and New York City. In 2001, she came back to India. She was appointed the managing director of the investment banking division.
Launch of Nykaa
However, Falguni knew deep down that she wanted to start something of her own. By 2011, she had a couple of ideas, one of them being a multi-brand e-commerce platform. In 2012, she quit her job and launched Nykaa. Nayar started her company out of her father’s small office with three employees on board.
She faced multiple challenges with the website frequently crashing due to multiple orders in the beginning. But she patiently and steadily dealt with them all and soon Nykaa became the Amazon for makeup and skincare.
The Brand
Nykaa brings to the market domestic brands, international brands, luxury and prestige brands, premium brands, niche and cult brands and expert advice and videos. It understands the needs and preferences of the consumer well with over more than 72 Luxe and On-Trend and Kiosk Stores, an ever growing online community for beauty buffs, and a Beauty Helpline to its credit. With 2400+, 100% authentic brands Nykaa offers a well curated comprehensive selection of makeup, skincare, haircare, bath and body, fragrance, grooming appliances, personal care, and health and wellness categories.
From the widest selection of genuine beauty products from around the world to beauty advice, Nykaa is truly passionate about catering to every beauty and wellness need and hence its tagline: ‘Your Beauty is Our Passion’.
Awards
Along with being the Founder and CEO of one of the leading businesses in the country Falguni also has been a recipient of many awards and accolades. She has been recognized for her business acumen and was named one of Fortune’s “Most Powerful Women Entrepreneurs” in 2016. Nayar was enlisted on the Forbes India Rich List in 2022 at position 44 and was also a founding member of Asia Society in India.
She has truly been a flag bearer of women empowerment with investors in Nykaa including actors Katrina Kaif and Alia Bhatt who have, reportedly, invested Rs 2.04 crore and Rs 4.95 crore, respectively. She also promotes employment of women in the company.
Falguni Nayar proves to be a true inspiration for women who want to start something but think its too late. Becoming India’s wealthiest self-made woman entrepreneur with a net worth of nearly $7.4 billion was not an easy journey. But with the right attitude and a will to make it? Nayar makes it seem like a piece of cake.
Also Read: Nykaa reports strong Q2 growth: 66% PAT surge and revenue uplift of 24% yoy
