Falguni Nayar – The CEO of Nykaa | Story of Nykaa
Hello everyone! We are back with another article related to Startup Stories. As you all must have come to know the about our topic. Whenever we want to order skincare and makeup products online, Nykaa is one of the obvious names that come to mind. Falguni Nayar founded Nykaa in 2012 as a multi-brand online retailer of beauty products. Over the years, Nykaa has become a go-to destination for wellness and beauty products. In this article on “Falguni Nayar – The CEO of Nykaa” we will know more about Falguni Nayar, the woman who revolutionized the beauty industry in India.
Ladies are giving a shock to those social orders who used to believe that ladies can do just lodging. Ladies are pushing forward alongside adjusting among house and office works. In the Entrepreneurial world, they have demonstrated by running a major association.
Now, Let us know everything about Falguni Nayar- The CEO of Nykaa
Who is Falguni Nayar?
Falguni Nayar is the CEO of Nykaa, a successful online retailer of beauty, wellness, and fashion products. She was born on 19 February 1963 in Mumbai, Maharashtra. In the wake of serving 20 years as an endeavor financial backer and trader with Kotak Mahindra, she unexpectedly declared her takeoff to seek after her fantasy. Falguni completed her studies from IIM Ahmedabad in 1985 and married Sanjay Nayar in May 1987. They have a daughter and a son.
Life Before Nykaa
She started her career in consulting with A.F. Ferguson & Co. Then, she spent 18 years at the Kotak Mahindra Bank as the Director of Kotak Mahindra Investment Bank as well as the director at Kotak Securities.
In 2012, at the age of 51 when most people are thinking about retirement, she quit her job to pursue what she always wanted to do. She founded Nykaa with a vision to provide beauty-focused online retailers in India. Through Nykaa, she wanted to educate customers on the right beauty products to use as well as how to use them.
“I wanted to stand for those women who want to be beautiful for themselves, not for men or other women.”
She tweeted this during the opening of the Nykaa brand. The brand name Nykaa is originated from the Sanskrit word nayaka, the meaning ‘one in the spotlight’. In 2015, the company expanded from online-only to an omnichannel model and began selling fashion products.
Nykaa has emerged as India’s leading beauty retailer with a portfolio of 1500+ brands, including its own private label, available online and across 68 stores in India.
Nykaa’s revenue exceeded Rs. 1200 crores in FY19. In addition to this, while Covid-19 stifled businesses in India from airlines to tourism, Nykaa was flourishing as shoppers who were stuck at home bought beauty and fashion products from the online retailer.
Corporate social responsibility
Nykaa extends social and financial help to causes such as education, women’s rights, and empowerment, rural development, and disaster management. Toward the finish of March 2019, the organization had practically twofold deals that mean, it assessed 180 dollars. The originator of the organization Falguni Nayar has consumed the business and brought 51 million dollars up in subsidizing.
In April 2019, Nykaa got speculation 14.4 dollars from TPG Growth for an undisclosed stake, this arrangement expanded the Nykaa esteem that has 724 million dollars. Falguni and her family handle more than half portion of this organization. her better half Sanjay Nayar is the CEO of KKR and nation head in India, he has put resources into Nykaa to his own ability.
Some of its notable CSR partnerships include SPARSH India, CARE International Confederation, PRIDE, Milaap, Nanhi Kali, Make a Wish Foundation, Benefactor, Sneha, and PM CARE Fund.
Awards and achievements by CEO of Nykaa
- In 2017, she was awarded the ‘Women Ahead’ award at the Economic Times Startup Awards 2017.
- In 2017, she was recognized as ‘The Most Powerful Women in Business by Business Today.
- In 2019, she was awarded the ‘Businesswoman of the Year’ at the Economic Times Awards for Corporate Excellence 2019 for her contribution to the beauty industry in India.
- She was listed as one of Asia’s Power Businesswomen 2019 by Forbes Asia and named Businessperson of the Year 2019 by Vogue India.
- She was awarded EY ‘Entrepreneur of The Year 2019 – Start-up Award’ by Ernst and Young.
- She is on the board of several companies, including ACC, Dabur, Endurance Group, and Tata Technologies.
What Can We Learn from Falguni Nayar?
Falguni Nayar pursued her dream of starting a business after 50, proving that it’s never too late to pursue your dreams. She has motivated people to believe that opportunities can be created at any time and age. As long as you are determined, it does not matter when you start.
Hopefully, you get to know something valuable from the story of “Falguni Nayar – The CEO of Nykaa”. Please, let us know what you learned from her success story.
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