We all know that beauty plays a very important role in our lives – be it for men and women. It is true to say that beauty is in the eyes of the beholder, but it is always fun to play with makeup and enhance our features. This is where Falguni Nayar steps in. CEO of Nykaa, Falguni Nayar loves make-up and wants women (and men) to indulge themselves in it – guilt-free.
She truly is the Duchess of elegance and interestingly, elegance was one of the biggest inspirations for her to build up this multi-brand online retailer. Nayar pursued her B.Com from the University of Mumbai and further went on to study at IIM Ahmedabad. This strong business knowledge is a testament to why she is now one of the most famous women entrepreneurs in India.
“I wanted to stand for those women who want to be beautiful for themselves, not for men or other women!”
Being Her Own ‘Nykaa’
The wonderful Falguni Nayar is truly and it is with certainty, we can say, her own inspiration. She founded Nykaa, which is also popularly known as ‘Indian Sephora’ in the year 2012. Since then, she has worked towards extending and improving the brand’s market presence. She has expanded from online stores to brick-and-mortar outlets where people can walk in and choose their favorite or preferred item.
Before the idea of Nykaa struck Nayar, she had dedicated 18 years of her life to Kotak Mahindra Capital Co. She resigned and left the company as the Managing Director and gave the entrepreneur within her a chance.
It is quite a challenging resolution for an individual to resign from their established professional life at the age of fifty and consider commencing a business from scratch. Falguni Nayar bid farewell to her well-established profession, only to go back to the drawing board and work for her entrepreneurship vision, Nykaa. Since then, every bit of her business decisions has made her a worthy name among the list of phenomenal business leaders.
An Entrepreneur Is Born
Born and brought up in the city of dreams – Mumbai, Falguni Nayar’s father ran a small bearings company. He was assisted by his wife and Nayar’s mother. Observing her father, she knew she had it in her to become a businesswoman. During her developing years, conversations around commerce, business and the functions of the stock exchange were common In her house. “Plus, I am a Gujarati,” she said in an interview with Livemint.
She knew she had it in her and it is her sheer confidence and experience that gave wings to her dreams and showed the world that age is truly, just a number. No doubt, setting up a business from scratch required courage, resilience, and will – but she was ready to give it her all and with completely zest and gusto. She says she has drawn resilience from entrepreneurial giants such as UTV’s Ronnie Screwvala and PVR Cinemas’ Ajay Bijli. She was inspired by their confidence and capacity for doing things.
Nykaa has been one of the top runners in bringing luxury, premier brands to India and serves them up on a plate to Indian customers.
The Idea Of Nykaa
Falguni Nayar soon discerned that due to scarcity of resources, beauty was an underutilized market in India although there are many top beauty courses available for students. She anticipated an upcoming boom in the Indian beauty market. Her gamble was worth it and Nykaa is now touching newer heights every day. The company has made substantial headway since its foundation with its headquarters in Mumbai. Falguni Nayar’s estimated net worth touched a whopping $743 million and had a profit of INR 2.31 crores in the financial year 2018-19. Nykaa has since established a stronghold in the e-commerce platform & retail label. Now it has some 400 brands and offers approximately 40 thousand products on its official website.
The flourishing online beauty enterprise has targeted customers of 22-35 years of age and in March 2016, it also initiated personal products in the segment of bath and body care. Falguni Nayar truly knows the scope of advertising. Nykaa has stores in Mumbai, New Delhi, and Bangalore and provides brands such as Kaya Skin Clinic, Lakmé, LOréal Paris, etc.
Falguni Nayar’s Nykaa has now become the market’s unique personality. The affiliation of the brand with its pioneer is deeply stitched throughout the world and is due to her ambition for her vision. Nykaa from Nayika, meaning one’s actress, is a name ideal for beautifying and inspiring women simultaneously. Kudos to the brand, and to the lady who never quits accomplishing and surpasses her expectations.
“Think big but start small.”
An interesting trait of Falguni Nayar’s personality is that her interests lie much beyond the realms of beauty and business. She is also the founding member of the Asia Society In India. She is on various corporate boards as well. Dabur India and Aviva Insurance Board are just some of the companies she has tied up with. In addition to all this, she is also a homemaker. She truly is a source of inspiration to all those women who are forced to believe that life comes to a full stop after marriage or having children. She is an embodiment of the saying that women can do anything. Falguni Nayar is an apt example of women empowerment. She has revolutionized the global cosmetics industry with elegance and inspired many. We salute your resilience and vision Falguni Nayar!
We hope through this blog we have been successful in bringing forth the hard work and conviction of Falguni Nayar. And for those, who think that women are just for the kitchen – think again and read our blog again! Inspired by the success story of Nykaa? At Leverage Edu, we aspire to provide a pathway towards top-notch learning and produce more such heroes of contemporary India. Connect with our experts for a career counselling session today and stay tuned for more such inspirational real-life stories!