The success story of Falguni Nayar, founder of the multi-brand beauty retailer Nykaa, is a testament to the fact that with the right training, education and support women can conquer any height. She has built an empire that started off with a humble beginning, but now stands tall at 200 crores !
Coming from a business family, she is said to have learned the ways of running a business at a young age.
Falguni graduated from IIM Ahemdabad and then, worked with Kotak Mahindra Bank from next 19 years where she climbed to the post of MD, investment banking arm of the bank.
It was in the year 2012 while both of her children were in the USA to further their studies, she decided to take the enormous leap of faith.
She quit her job at the age of 50 and started her entrepreneurial journey by entering the cosmetics and beauty market.
This choice of leaving an established career behind and entering the world of entrepreneurship was driven by two factors: her love for makeup, and the growing potential of the online market place in India.
Today, Nykaa is an online store that sells beauty, cosmetics products from some of the renowned brands like Kaya.
The company recently expanded into offline space by opening 17 stores across the country.
Nykaa has raised a total of US$145.9 million in funding over 12 rounds.
Fidelity Management and Research Company and Alia Bhatt are the most recent investors.
It unveiled that it recorded 18.6 billion rupees (US$252 million) in revenue for the year ended March 31.
It is expecting a 40% growth in consolidated revenue in the ongoing fiscal year.
Falguni Nayar has won a series of awards across the globe. Some of the prominent ones being:
• Vogue Beauty Awards – Beauty Game Changer in 2017.
• Business Today’s – Most Powerful Women in Indian Business in 2011
• Franchise India Star Retailer Awards: Health & Beauty Retailer of the Year and Women Entrepreneur of the year in 2017
• Best Social Media Brand – Ecommerce: SAMMIES -2018
• Best Use Of Content To Commerce Content Marketing Summit Asia 2019
• BW Disrupt Women Entrepreneur Awards 2019
In 2018, Nykaa launched Nykaa Fashion, its first venture line of products that are not part of the usual beauty line of products sold by the company.
Nykaa Fashion is led by Adwaita Nayar, daughter of founder Falguni Nayar and an Alumnus of Harvard
Nykaa is primarily an e-commerce website that offers beauty and wellness products from all the leading brands including Lakmé, Kaya Skin Clinic, L’Oréal Paris, etc. It has its offline presence in 17 stores and is expanding. It has over 850+ curated brands and 35,000 products.
With Falguni Nayar at the helm of Nykaa’s journey, the brand is sure to see more and more success in the coming years. The brand primarily focuses on women empowerment and provides great career options for women
