Falguni Nayar is a billionaire businesswoman from India who is the founder and CEO of Nykaa, an Indian e-commerce firm that specializes in beauty and wellness goods. Her path to becoming a successful entrepreneur is one of inspiration, hard work, and perseverance.
Nayar was born on February 19, 1963, in Mumbai, India, to Gujarati parents. Her father was a businessman who managed a small bearings firm with the help of her mother.
Falguni Nayar married Sanjay Nayar, whom she met at business school, in 1987. He is the Chief Executive Officer of Kohlberg Kravis Roberts India. They have twin daughters, Adwaita Nayar and Anchit Nayar; Adwaita is the CEO of Nykaa Fashion, while Anchit oversees the retail and e-commerce departments.
After leaving her consultant position at A. F. Ferguson & Co. in 1993, Nayar joined the Kotak Mahindra Group. She began her career at Kotak Mahindra as the head of the mergers and acquisitions (M&A) team before moving on to establish institutional equities offices in London and New York City. She returned to India in 2001 and was named managing director of Kotak Mahindra Capital in 2005.
She founded Nykaa with her own money after quitting her employment in April 2012, at the age of 50. Nayar is one of only two self-made female millionaires in India, the other being Kiran Mazumdar-Shaw.
Nayar initially encountered a number of difficulties in establishing Nykaa. She had no prior experience in the e-commerce sector, which was dominated by large players such as Amazon and Flipkart. Nayar, on the other hand, was adamant about making her business a success.
Nykaa is now one of India’s largest e-commerce businesses, with a market capitalization of more than $1 billion. It has over 70 physical stores across the nation and millions of female customers.
Falguni currently leads a team of over 1600 Nykaa-ites in the creation of a beauty and lifestyle retail empire with a portfolio of 1500+ brands, including its own private label, accessible online and in 68 stores across India. Nykaa’s revenue surpassed Rs. 1200 crores in FY19 and is on pace to surpass Rs. 2000 crores in FY20. Nykaa has expanded into new markets, such as Nykaa Fashion, a fashion-first, style-led curated fashion portal.
Nayar’s entrepreneurial success has won her numerous awards, including the EY Entrepreneur of the Year award in 2018. She also serves on the boards of several corporations, including Tata Technologies and Thomas Cook India.
Nayar’s path has demonstrated that anything is possible with hard work, perseverance, and a clear vision. She has inspired millions of Indian women to follow their entrepreneurial dreams and has established herself as a role model for the next generation of entrepreneurs.
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