“I wanted to stand for those women who want to be beautiful for themselves, not for men or other women.”
Falguni Nayar, CEO & Founder, Nykaa
We have always appreciated a person building a brand or business at a young age, it is considered to be phenomenal but we often forget that age is just a number and it is never too late to do something that you have always wanted to do. The best part about following your passion is that there is no age bar involved, where talent and dedication are the two enlightening factors. A true and firm example of this is Falguni Nayar, founder, and CEO of the multi-brand splendour retailer Nykaa. Let’s take a quick look at the success story of Falguni Nayar.
ABOUT FALGUNI NAYAR
Falguni Nayar, the former investment banker turned entrepreneur needs no introduction, she has become a household name now and people know her for her dedication. After getting married and having kids one would think what more is left in life, but for Falguni Nayar her journey had just begun, her e-commerce portal Nykaa has taken the beauty industry by storm and is growing every minute, for Falguni her journey has just begun and she believes that she has so much to learn from life.
She is an example of the reality that women can overcome any obstacle with the proper training, inspiration, and aid. A famous Indian billionaire, Falguni has constructed an empire that started with a humble beginning, however, now stands tall at 200 crores!
Isn’t this what we call phenomenal? It is truly difficult for a person to leave their job at 50 and then assume about beginning an enterprise right from scratch. If it would have been easy, there would now not have been extraordinary tales like Falguni Nayar’s who bid adieu to her well-established career, solely to provide a start to her entrepreneurship dream, Nykaa.
THE SUCCESS STORY OF FALGUNI NAYAR
An IIM Ahmedabad alumnus, Falguni worked as a venture investor and merchant with Kotak Mahindra Group for around 20 years. After working for the group’s global operations in the US and UK, she headed the institutional equities division. After completing her graduation from IIM, Ahmedabad, Falguni Nayar spent about 19 years working as a funding banker with the Kotak Mahindra group. Years later in 2005, she took over as the Managing Director of the funding banking enterprise which she spearheaded the firm.
In the 12 months of 2012, she was determined to take the huge jump of faith and embark on an entrepreneurial journey. She was once rapid to figure that splendour was once an untapped market in India and was once on the way to experiencing an explosion.
THE LAUNCH OF NYKAA
The billionaire Falguni Nayar started with Nykaa in 2012. It was once launched as an eCommerce portal curating a varied collection of splendour, beauty, haircare, fashion, and health products. The company named Nykaa was derived from the Sanskrit phrase nayaka, which means ‘one in the spotlight’. This desire to leave a fruitful profession and get into the world of entrepreneurship was motivated by two main factors: her love for makeup and secondly, her curiosity to discover the online advertising platform which she thought to have a lot of potential.
She once claimed that “People think I was once crazy”. She located the on-line market and its expansion in India. The splendour section’s preference got here both from her love for make-up and the viable online market ready for any individual to come up with such a platform. She began feeling assured and empowered at being guided through the proper way of the use of splendour merchandise and being informed, which are the proper merchandise to be used.
She obtained this journey at multi-brand splendour shops like Sephora, and Falguni, despite of now not being a normal purchaser of beauty products, felt interested to purchase those well worth thousands of bucks owing to the proper guidance. She felt the want to replicate this in India.
She drew motivation from entrepreneurial giants like Ronnie Screwvala of UTV and Ajay Bijli of PVR Cinemas regarding her business activity. Their belief in self and readiness to take danger in lifestyles stimulated her a lot. “Plus, I am a Gujarati,” Falguni stated in an interview. While her dream to be an entrepreneur was always there on the back of her head, Nykaa came about when Falguni Nayar had some spare time on her hands after her youngsters (twins Anchit and Adwaita) left for their research to the US. “I’m an adventurer,” she says. “I was once in no way a true swimmer however, I would usually be the first to leap in. The thought, what if I break a leg? doesn’t show up in me,” she added.
She additionally wanted the girls of India to experience empowerment. According to the reports of Nykaa.com, the corporation has saved more than 1500 Genuine companies and granted free shipping. Falguni claimed that Nykaa has emerged as India’s largest omnichannel beauty vacation spot in a very short time with more than thousands of comfy clients throughout the county.
REASON BEHIND THE GROWTH OF NYKAA
Nykaa has been the answer to a question prominent in both men’s and women’s lives. “Where can we find the best deals for beauty and Skincare?” While beauty is subjective and personal, the right lipstick shade for women and the right fragrance for men can make both happy. Despite the dangers of the pandemic still on the loose, the lockdown has seen this brand getting bigger and better with every passing day.
Nykaa started as an e-commerce company in 2012 and shattered various boundaries and obstacles as it reached new heights. Started solely with an e-commerce platform selling multi-body care and beauty products, Nykaa currently has retail stores throughout the metropolitan cities across India. The brand is known to have most of your products at one place with products ranging from affordable to luxury with regard to the budget of all.
NET WORTH OF FALGUNI NAYAR
She has entered the Hurun Global Rich List 2022 as India’s most successful self-made woman and has become the first woman to overtake Kiran Mazumdar Shaw of Biocon. Falguni’s net worth stands at $4.2 billion.
Falguni Nayar is an exceptional influence for all the women who are always ready to face challenges and rise up above all. She always believed in herself as an aspiring entrepreneur and her knowledge regarding the industry.
The most important element is that she knew the value of a superfluous service and thus she began with taking care of the clients’ orders personally at some point in time. As she quotes – it is necessary to come to be treasured by society, is a truly warranted acknowledgement.
Strong women like Falguni Nayar by emerging as one of the richest billionaires in India have become an inspiration for all women who want to follow their passion, stories like these motivate us to go after what our heart believes in.