Falguni Nayar – Founder & CEO Of Nykaa | Success Story
“Think Big But Start Small” – A quote by Falguni Nayar, CEO of Nykaa.
What’s the story behind this quote? How did Falguni find billions’ worth of business? The story has different aspects that unfold the pages of hardship, failure, motivation and success of a woman who quit her job at 49 and launched Nykaa from her father’s office. Let’s Explore!
About Falguni Nayar
Falguni Nayar is a successful businesswoman and entrepreneur from India. She is the CEO and founder of Nykaa which has become the first unicorn company in India to be led by a woman in 2020. Nayar quickly rose to the status of the wealthiest female billionaire in India after founding Nykaa. She is the second self-made billionaire woman in India. Her estimated US net worth is 430 crores.
Nayar spent 20 years in Kotak Mahindra Group before founding Nykaa in 2021. For almost four years, she served as the managing director of Kotak Investment Banking. She founded Nykaa in 2012 from her father’s workplace at the age of 49.
Nykaa – Startup Story
Early on in 2012, the business had many difficulties. Their website constantly went down; as soon as they received 100 orders, the entire system would crash. The demand began to rise in 2013. The daughter of Falguni Nayar also left her job and joined Nykaa.
Nykaa introduced its cosmetic products in 2015, and they were a big success. In four years, the business grew to become one of the largest e-commerce and beauty retail platforms. It became the first unicorn startup in India to be run by a woman in 2020. The company’s net value was $13 billion as of November 2021. Nykaa has emerged as the Amazon of the cosmetics sector.
Future Expansion Plan – Nykaa
Currently, the brand is aiming to expand its market offline. It plans to open 180 outlets across India by 2024 to increase its offline presence. To improve the customer experience, Nykaa is currently eager to extend its fulfilment sites across the nation. Additionally, it intends to increase its warehousing capacity by 40%.
