Falguni Nayar: The Inspirational Success Story Of Nykaa’s Founder

Falguni Nayar: The Inspirational Success Story Of Nykaa’s Founder.
Former investment banker Falguni Nayar quit her job to start Nykaa – the online retailer of fashion and beauty products. Falguni Sanjay Nayar is one of two self-made female Indian billionaires. Nayar’s accomplishments and success have made her an inspiration to other young business people in India and all around the world.

Early life & Family

Nayar was born and raised in a Gujarati family in Mumbai, Maharashtra. Her mother helped her businessman father run a modest bearings company.
She holds a Bachelor of Commerce degree from Sydenham College of Commerce and Economics and a postgraduate from the Indian Institute of Management Ahmedabad. In 1987 Falguni Nayar married Sanjay Nayar who she met at business school. Mr Nayar is the CEO of Kohlberg Kravis Roberts India, and is one of the most well-known and seasoned investors in the Indian private investing landscape, with over 38 years of experience in the financial markets. Nayer and Sanjay are parents of twins – Adwaita Nayar and Anchit Nayar. Adwaita is the CEO of Nykaa Fashion and Anchit is the CEO of Beauty E-Commerce.

Why is Falguni Nayar so successful?

Nayar joined the Kotak Mahindra Group in 1993, leaving behind her consultant position at A. F. Ferguson & Co. She was the head of M&A team at Kotak Mahindra and later took the initiative to open institutional equities offices in both London and New York City. She made her way back to India in 2001. By 2005, she took on the role of managing director at Kotak Mahindra Capital (investment banking) and also served as the director of Kotak Securities. She decided to leave her position in 2012. She has also served on boards of various companies – Tata Motors, Aviva Life Insurance Company Limited.

In April 2012, at the age of 50, she established Nykaa, investing $2 million of her own capital. FSN E-Commerce Ventures Ltd (Nykaa) is a cosmetics, personal care, skin care and perfume company, headquartered in Mumbai. It sells beauty, wellness and fashion products online and has over 100 physical stores. In 2020, it became the first Indian unicorn startup headed by a woman.

She employed three people, when she started her business from her father’s small office. By 2021, the company was valued at $2.3 billion, elevating Nayar’s net worth to an estimated $1.1 billion. Nayar is one of two self-made female Indian billionaires, the other being Kiran Mazumdar-Shaw.

Nykaa was publicly listed on the National Stock Exchange in Mumbai on November 10, 2021. The listing price of 2,018 rupees gives the company a valuation of $13 billion. Just after Nykaa went public, Nayar achieved the title of the richest self-made woman in India, as her net worth jumped to an astounding $6.5 billion.

Currently, Falguni Nayar serves as independent director on boards of Kotak Securities Limited, ACC Limited and Dabur India Limited.

Recognition and Awards

Falguni Nayar has won many awards, including:

‘EY Entrepreneur Of The Year 2019’
‘EY Entrepreneur Of The Year 2021’ by Ernst and Young
‘Businesswoman of the Year’ at the Economic Times for Corporate Excellence, 2019
‘DNA Women Achievers Awards 2023’ in FMCG category

She was listed as one of the ‘Asia’s Power Businesswoman 2019’ by Forbes Asia and named as ‘Business Person Of The Year 2019’ by Vogue Italia.

Falguni Nayar’s journey is a great example for aspiring entrepreneurs, especially women facing various challenges in their paths. It emphasizes the value of establishing trust, embracing technology, and having the bravery to chase your dreams, regardless of your background or age.