At the age when people multiply their retirement, this woman entrepreneur quit her well-paying Kotak Bank job and set up a business.
Falguni Nayar, the founder of beauty startup Nykaa, is India's richest self-made female billionaire after Dr. Kiran Mazumdar Shaw. Today Nykaa is one of the top e-commerce sites for beauty products in the country.
More than 30 makeup products are sold every minute on this platform. Today Nykaa has become a company worth billions.
Falguni Nayarr was named EY Entrepreneur of the Year 2021. According to the consulting firm, Falguni Nayar will represent India at the EY World Entrepreneur of the Year Award to be held on June 9, 2022.
In today's time, to say that women are made only for the four walls of the house and their work is only to take care of the house, children, and family and to look after the work of the kitchen. So it is like satirizing their ability, not anywhere else, if we talk about our India, today many women have proved their mettle in different fields.
Now from professor to army, from auto driver to missile launch, from the IT sector to fashion and cosmetics everywhere women have registered their position with great success.
There is a set age to do something, if you think so then you are wrong. Because there is no time limit and age to do something and learn, when passion and passion add to your potential, that is the right time.
A woman who started her business at a stage in life when most people take retirement and plan for their old age.
Not only did he start his business, but also set an example by giving equal competition to many big companies already established in the country.
Falguni Nayar had said in an interview, “For young women, I would say that you are the center of your life. I see women trying to meet the needs of their families but not chasing their dreams. You are the most important person in your life and it is important to dream.”
~Falguni Nayar
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Speaking at the 57th annual convocation of the Indian Institute of Management Ahmedabad (IIMA), Falguni Nayar advised management graduates to spend the initial years of their careers learning more rather than taking risks and chasing rewards.
She said, “Don't be afraid to take risks on the way to the goal. You are now about to enter a world that is increasingly risk-friendly. Pick the right challenges in the early years of your career and take some bold bets on yourself. Test what you like and what you don't. Take up roles that take you out of your comfort zone and hence challenge yourself.”
Let's know about Falguni Nayar
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Early Life
Falguni Nayar was born on 19 February 1963, in a Gujarati family living in the city of Mumbai. Her father was the owner of a ball-bearing company.
Falguni Nayar was a bright student from the very beginning. She received her early education from The New Era School. After completing her 12th standard, she completed her graduation in Economics and Commerce. After this, she completed her MBA degree from India's most prestigious Management College IIM Ahmedabad.
On 19 May 1987, she married Sanjay Nayar, who studied with her at IIM Ahmedabad. Her husband Sanjay Nayar is the CEO of US-based private equity firm KKR in India. She is also a member of the Asia Portfolio Management Committee and the Asian Investment Committee.
They have twin children, a son named Anchit Nayar and a daughter named Adhita Nayar.
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Early Career
After completing her studies, Falguni Nayar worked as a consultant at A F Ferguson & Co. for about 8 years. Then, she worked continuously for 20 years at Kotak Mahindra Capital Company. She was established there as Investment Banker to Capital Investment, Managing Director.
Falguni Nayar was doing a well-paid job at a very high position. But somewhere in her mind, there was always an urge to do something of her own. Her passion for doing business slowly took deep roots and she quit his job at the age of 50.
She believes that she got the understanding and depth of business from her family in her childhood. In her house, people used to talk only about the stock market and business. She took the decision of doing basic business with a long pause but when he took it, it created a stir.
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Installation of Heroine
During her career as an investment banker, Falguni Nayar has seen how fledgling startups turn into big brands in a few years with their hard work and dedication. Taking inspiration from all of them, she moved towards her destination.
In the year 2012, she left her better job and founded Nykaa. At that time, her colleagues and friends used to call her crazy because a woman entering the age of 50 was going to leave her good career and start a business. She was also registering her presence in an area about which she was not even fully aware.
Falguni Nayar got the idea of a cosmetics business when she visited a beauty product store called Sephora. She was very impressed with the service of the salesman there.
She liked the service there so much that he bought a lot of products. It was from here that the plan was born in his mind.
She thought that why not start such a service through an online platform? Where beauty products are made available according to the skin tone and texture of the people.
She decided to create a platform where cheap to cheap and expensive to-expensive brands would be available. A platform from where people not only in cities but also in small towns and villages can use these beauty products. And thus, Nayaka was launched.
U-TV owner Robin Screwvala and PVR owner Ajay Bijli became his inspiration in the initial days of the business.
Falguni Nayar faced a lot of difficulties at the beginning of 'Nyaka'. Three of their chief technology officers had resigned within the first three-four years. So, in the beginning, she had to see all the orders himself.
Despite facing so many problems, she did not let her spirits waver. In the year 2014, her company received an initial investment of around Rs 7 crore from Sequoia Capital India. After this, many people slowly started investing in 'Nyaka'.
In March 2020, Nykaa received an investment of around 100 crores from Steadview Capital. Again in May 2020, around 67 crores got financial support from Nayaka.
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Today film stars like Katrina Kaif and Alia Bhatt have also invested in Nykaa
Nykaa started its first store in the year 2014. As on 31 August 2021, FSN E-Commerce has 80 stores in 40 cities across the country. Nykaa also has a primary app for beauty and personal care. Apart from this, Nykaa Fashion includes clothing, accessories, and fashion-related products. More than 4,000 beauty, personal care, and fashion brands are associated with retail stores on their app.
The offline stores of Nykaa are classified into three categories. These include Nykaa Luxe, Nykaa On Trend, and Nykaa Beauty Kiosks.
Nykaa is an e-commerce platform that not only provides its own products related to beauty and health but also supplies online products from well-known brands like LAKME, KAYA Skin Clinic, Loreal, and international brands like MAC, DIOR, and Huda Beauty.
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Beauty & Cosmetics & Fashion Brands by Nykaa
Nykaa has her own brands in beauty and cosmetics. These include Nykaa Naturals, Nykaa Cosmetics, and Kaya Beauty.
Nykaa's fashion brands are NYKD by Nykaa, 20 Dresses, RSVP by Nykaa Fashion, Nykaa Pipa & Bella.
In 2015, Nykaa launched its beauty products. After this launched skincare and personal care products.
Falguni Nayar launched a beauty range called Masaba by Nykaa in collaboration with Masaba Gupta in 2019. In the same year, she founded 20 Dresses (20dresses.com). The leading style platform for women. Along with this, Nykaa started her celebrity partnership brand 'Kaya Beauty' in association with Bollywood actress Katrina Kaif.
Falguni Nayar introduces Nykaa on the Inventory Model. Its warehouses are in Delhi, Pune, Hyderabad, Kolkata, and Bengaluru.
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Nykaa's Revenue and Profits
Talking about the revenue and profit of Nykaa, in 2020, Nykaa's turnover was close to 17778 million. At the same time, she also had to suffer the loss of 163 miles.
In 2021, Nykaa's revenue was around 24536 million and its profit was 619 million.
Nykaa is the first unicorn start-up to turn profitable. Unicorn start-ups are those whose valuation crosses $1 million.
IPO listing rocked
On November 10, 2021, Nykaa rocked the IPO (Initial Public Offering, IPO) listing.
With this, the company's founder Falguni Nayar became India's richest self-made woman. Nykaa's IPO is listed on the stock market on Wednesday, 28 October 2021.
The company's debut in the stock market was a big bang and the market capitalization crossed one lakh crore. Falguni Nayar owns half of the company's stock, which is now worth $6.5 billion.
Nykaa's parent company FSN E-Commerce Ventures is the first unicorn company headed by a woman to be listed on the stock exchange. Nykaa's IPO was open for 3 days, which closed on 1 November 2021. Her offer was subscribed 82 times in the IPO.
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Next Goal
Falguni Nayar's next target is to focus on expanding her offline business. By 2024, she is planning to open 180 offline stores in Nykaa.
Awards and honors
- FICCI Women's Organization (FLO) Awards
- Woman Ahead Award: The Economic Times Start-up Awards 2017
Age is just a number because passion has no age limit. Falguni Nayar is the inspiration for every dream that a woman dreams of for her progress, progress, and economic independence. If the purpose of living the dreams is firm, then the potential definitely keeps on getting organized. It is just a matter of time to collect the confidence once and walk on your path.
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