In November 2021, Nykaa, a leading e-commerce beauty and lifestyle retail platform in India became a listed company. They opened at the stock market at Rs. 2,080, a 79% premium over its issue price (IPO price) which was Rs. 1,125.
Nykaa Founder Falguni Nayar is India’s Richest Self-Made Woman Billionaire. What is the story of the brand renowned across the country as women and men’s known make-up and grooming products online store?
Yes. Nykaa is an Indian app. Here is one of the Falguni Nayar: India’s Richest Self-Made Female Billionaire quotes which she shared on Nykaa’s listing event:
“I started Nykaa at the age of 50 with no experience in retail or technology or beauty or fashion. With that, to everyone across India who’s ever had a dream, especially all women with a dream, I hope the Nykaa journey, an Indian born, Indian owned and Indian managed dream come true – can inspire each of you to be the Nayaka of your lives.”
Falguni’s story at entrepreneurship is making it to the charts with the blockbuster IPO. Let us interest you with some facts about Falguni before we talk about her journey.
Nayar belongs to a Gujrati Family based in Mumbai, Maharashtra, India.
She is IIM, Ahmedabad alumni.
She served at Kotak Mahindra Group for 19 years.
She became an entrepreneur at the age of 50 years.
She incepted the brand with her funds.
As of 2021, Nayar was worth $1.1 Billion.
She is one of the two self-made female Indian billionaires on the planet.
She is, now, also on the list of India’s Top 20 richest people.
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Falguni’s entrepreneurial journey has led her to reach the status of India’s richest self-made female billionaire incepted in 2012. When the 50-year-old Falguni took 2 million dollars of her own money to start a venture at the peak of her investment banking career.
Her visionary insight led to the e-commerce business which sells beauty, wellness, and fashion products 8 years ago. Today, they have several websites and apps which helps Indians access Indian and internationally manufactured products in India.
2012: Nykaa, derived from the Sanskrit word, 'Nayaka' which means actress or the one in the spotlight incepted. The website was launched in Diwali 2012. Several companies invested in Nykaa.
2013: The website was commercially available in 2013.
2015: Nykaa expanded. The brand ventured from being an online-only to an omnichannel model. They began selling not only beauty but also fashion products.
2016: Nykaa launched its lipstick collection for the first time, called ‘So Matte’ Lipstick at exclusive bloggers meet at The Korner House, Mumbai on 25th October.
2018: Nykaa again expanded. This time, they ditched serving only to women and answered the online demand for men grooming products at Nykaa Man. It became one of its kind as India's first multi-brand eCommerce store for men's grooming.
2018: They ventured into Fashion. Yes, Nykaa Beauty ventured into Nykaa fashion. The brand was renamed the brand from Nykaa Design Studio to Nykaa Fashion. It catered to the fashion and lifestyle choices of the consumers.
2020: Nykaa PRO, a premium membership program was launched offering users special access to professional beauty products and offers on the Nykaa App. Nykaa luxe arm of Nykaa catered to the customer’s high-end beauty brands including their private label.
2020: Nykaa Fashion reached another milestone as it started its offline footprint through the first store launched in Ambience Mall situated in Delhi’s Vasant Kunj area. In December 2020, this made the business omnichannel.
2021: Nykaa's Giant Debut, Market Cap Crosses ₹ 1 Lakh Crore. India's newest billionaire Falguni Nayar built a beauty empire that reaches across the country through its e-commerce routes.
Falguni Nayar net worth is 7.5 billion US Dollars.
Behind every milestone that this start-up has reached and how Falguni Nayar built Nykaa to stand out from the crowd in India, there were indeed several challenges which she overcame.
Falguni hails from a Gujrati family. She was born and brought to Mumbai. Her father was a businessman who ran a small bearings company with her mother's assistance. Falguni Nayar parents, indeed, established a good example for their daughter. For her studies, she visited Sydenham College of Commerce and Economics for her graduation and the Indian Institute of Management, Ahmedabad for her post-graduation. In 1987, Falguni Nayar husband, Sanjay Nayar whom she met at business school married her.