Nykaa, a multi-brand beauty store was founded by Falguni Nayar in 2012. It is an e-commerce platform dealing with beauty and wellness products. Falguni is not only the founder but also the CEO of the company.
She embarked on the journey to build Nykaa in 2012 and now has 45 million people a month visiting both, online and offline stores. In 2015, Falguni decided to start a physical store which she set up at Indira Gandhi International Airport at the T3 terminal and now has 46 physical stores, and expanding.
Nykaa deals with 850 brands and over 1 lakh products. Nayar launched Nykaa with 2 million dollars and now the company stands tall evaluating at 200 crores. Falguni Nayar’s net worth is estimated to be ₹ 280 crores.
Early life and education
Falguni Nayar hails from a Gujarati family. She was born and brought up in Mumbai where she completed her schooling and graduation and later on completed her master’s degree from IIM Ahmedabad. She is married to Sanjay Nayak with two kids. Falguni Nayar has also been the managing director of Kotak Mahindra Capital Co. where she worked for 18 long years as an investment banker until she quit in 2012 to start something of her own.
The making of Nykaa
Falguni Nayar’s journey as an entrepreneur started at an age where many wouldn’t think of starting something from scratch. She left a secured job to explore the entrepreneurial world at the age of 50. From a very young age, the seed of the business was implanted in her as her father is a businessman so the desire to have something of her own was always there.
Nayar would see stores like Sephora and often think about replicating it as India didn’t have something that would sell and educate women about makeup and even though she wasn’t a frequent user of beauty products, she would spend thousands for the right guidance delivered. Her love for makeup became her inspiration to build Nykaa. She was also aware of the fact that makeup was also one of the many things which didn’t have a huge online market at that point and it would soon explode in no time. Nayar started Nykaa in 2012 with the idea to have products for all Indian skin tones and educate the buyers about each product, giving them the confidence to look beautiful for themselves. She embarked on the journey with just 2 million dollars and now has a beauty empire worth 200 crores giving employment to over 500 people.
Nayar strongly believes that with the right education and training, a woman can achieve anything she desires.Tweet
She urges women to come out of their shells and give themselves a chance. Nayar puts forward a thought-provoking example for all people in the society who bear the mindset that women can’t manage personal and professional life together and create a balance between the two. She is an inspirational figure and a true example of how strong determination can help women reach new heights by overcoming all obstacles.
· “I wanted to stand for those women who want to be beautiful for themselves, not for men or other women.”
· “Being an entrepreneur is not an easy job. An entrepreneur is like a roller-coaster. If he/she is stronger from inside, he/she can enjoy it”
Awards and Recognition
Falguni Nayar was awarded “The Most Powerful Women in Business 2017” by Business Today.· She was awarded “Women Ahead 2017” by Economic Times Startup Awards 2017.
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