Nykaa: Transforming Beauty and Wellness

Introduction Nykaa, founded by Falguni Nayar in 2012, is a leading beauty and wellness platform in India, offering a wide range of products and services.

Growth and Success Nykaa’s focus on quality and customer experience has made it a favorite among consumers. The company achieved unicorn status in 2020 and went public in 2021.

Future Prospects With plans to expand its product offerings and enhance its retail presence, Nykaa aims to become a global leader in the beauty and wellness industry.

Falguni Sanjay Nayar (born 19 February 1963) is an Indian billionaire businesswoman, who is the founder and CEO of the beauty and lifestyle retail company Nykaa, formally known as FSN E-Commerce Ventures which is an acronym of her own name. Nayar is one of two self-made female Indian billionaires.

Early life and education

Nayar was born and raised in a Gujarati family in Mumbai, Maharashtra. Her father was a businessman and ran a small bearings company, assisted by her mother. She is a graduate in B.Com from Sydenham College of Commerce and Economics and a postgraduate from the Indian Institute of Management Ahmedabad (1985 batch).

Career

In 1993, Nayar joined Kotak Mahindra Group after leaving her consultant job at A. F. Ferguson & Co. At Kotak Mahindra, she was initially the head of mergers and acquisitions (M&A) team, before going on to open institutional equities offices in London and New York City. In 2001, she returned to India. In 2005, she was appointed as the managing director of Kotak Mahindra Capital, the investment banking unit, and director of Kotak Securities, the institutional equities arm. She quit her job in 2012.

In April 2012, at the age of 50, she founded Nykaa with $2 million of her own money. Nykaa was worth $2.3 billion as of 2021 bringing 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 listed at $13 billion valuation on 10 November 2021. Soon after Nykaa went public, Nayar became the wealthiest self-made Indian woman, with her net worth rising to $6.5 billion. In 2022, Nayar made her debut in the Forbes India Rich List at rank 44.

Personal life

Falguni Nayar married Sanjay Nayar in the year 1987, whom she met at business school. He is the CEO of Kohlberg Kravis Roberts India. They have two children – Adwaita Nayar and Anchit Nayar, who are twins; Adwaita is the CEO of Nykaa Fashion whereas Anchit heads the retail and e-commerce divisions.