Falguni Nayar Success Story: Nykaa Founder

23 May, 2022

5 min read

241 Views

icon
Take a look at what Nykaa founder Falugni Nayar’s story is and understand how the company grew exponentially over the course of the past decade.

Introducing Mrs. Nayar - Nykaa’s Founder

It is unlikely for many people to choose to quit their jobs at 50 and start a business venture from scratch. Not only does this require courage and commitment, but it also requires tons of time and faith. However, Falguni Nayar was clearly willing to put in the blood, sweat and toil needed to succeed in such a scenario as she quit her job and went on to found Nykaa.

Nayar graduated from IIM Ahmedabad and went on to work for Kotak Mahindra Group for close to two decades. While employed by KMG she served as a venture investor as well as a merchant and focused on the group’s global operations in the UK as well as the US. Here, she led the institutional equities division. By 2005, she was employed as the group’s managing director and was responsible for saving them tremendous amounts of money.

Exploring the Origins of Falguni Nayar’s Nykaa

In April 2012, Nayar chose to mix up her career and added the title of “Nykaa’s CEO” to her repertoire. Her desire to change the course of her career was perceived to be strange. However, Nayar had kept tabs on the growth of the online consumer market in India. She opted to go for the beauty segment as she enjoyed make-up and saw the potential it held in the online retail space.

She sought inspiration from entrepreneurs like Ajay Bijli who helms PVR Cinemas and Ronnie Screwvala of UTV and chose to headquarter her company in Bombay where she had been born and raised. Her exposure to her father’s small bearings business also helped instil a level of confidence in her and made her feel that she would have what it took to be a successful entrepreneur.  The fact that her family frequently discussed the stock markets and trade around her while she was growing up helped cement this feeling.

Although the Nykaa dream existed within Falguni for a while, she was only able to grow the business when she had time to spare. She devoted more time to Nykaa after her twins Anchit and Adwaita left home to pursue their academics overseas. Given that she imposed a deadline of 50 to start this venture, she quit her job at Kotak and took the leap to start Nykaa.

Understanding Nykaa’s Business Model

Ultimately it was Falguni Nayar’s love for make-up and her understanding that the Indian market needed an online cosmetics and wellness platform that drove her. With Nykaa, she was able to bridge this gap and transformed the way women in India shop. Under her helm, Nykaa has curated over 850 brands and is home to 35,000 products. Further, the company has a physical presence evident from its 17 stores spread across a number of Indian cities. There exist two store formats that Nykaa follows. Of these, Nykaa Luxe offers high end Indian and international beauty brands in addition to vending Nykaa Beauty products. (Nykaa Beauty here refers to Nykaa’s in-house collection of beauty products). The second store format is Nykaa On Trend which features a number of popular market products.

While Nykaa is a young online beauty company that has a long way to go, it has successfully managed to penetrate its target audience which is aged between 22 and 35 years. As of March 2016, the company has gone on to launch private labelled products within the bath and body care section.

Nykaa employs inventory-based operations owing to which it has warehouses located in Bangalore, Mumbai and New Delhi. Several leading brands are available on Nykaa and include but aren’t limited to Charlotte Tilbury, Maybelline New York and Lakme.

Wrapping Up

Today, the Nykaa founder has become a singular entity in the space of wellness and beauty. Her impact is thoroughly evident across the company. In just a decade, Falguni Nayar has transformed the space within which her company operates. The future for Nykaa looks exciting and tracking its expansion and growth will help indicate just how far it goes. The Falguni Nayar story is one of hard work and perseverance and shows us that you can attain tremendous success at any age.

 

Disclaimer: This blog is exclusively for educational purposes and does not provide any advice/tips on investment or recommend buying and selling any stock.

How would you rate this blog?

Comments (0)

Add Comment

Related Blogs

  • icon

    Understanding Different...

    09 Mar, 2022

    8 min read

    READ MORE
  • icon

    Basics of Algorithmic...

    21 Feb, 2022

    7 min read

    READ MORE
  • icon

    Shiv Khera | Every Success...

    21 Apr, 2022

    5 min read

    READ MORE
  • icon

    Ashneer Grover Biography -...

    28 Feb, 2022

    5 min read

    READ MORE
  • icon

    Aman Gupta: Success Story...

    17 May, 2022

    5 min read

    READ MORE
  • icon

    How to Create Your Own...

    25 Apr, 2022

    8 min read

    READ MORE
  • icon

    Preference Shares:...

    17 Mar, 2022

    6 min read

    READ MORE
  • icon

    Lenskart Startup Story:...

    29 Mar, 2022

    6 min read

    READ MORE
  • icon

    Tax on Cryptocurrency

    04 Apr, 2022

    6 min read

    READ MORE
  • icon

    Taxation in 2022:...

    11 Apr, 2022

    7 min read

    READ MORE
  • icon

    Why Elon Musk Bought...

    29 May, 2022

    5 min read

    READ MORE
  • icon

    Investing in Cryptocurrency

    06 Apr, 2022

    7 min read

    READ MORE
  • icon

    Top 10 Stocks for 2022

    29 Apr, 2022

    7 min read

    READ MORE
  • icon

    Ratan Tata's Youngest...

    15 May, 2022

    4 min read

    READ MORE
  • icon

    LIC IPO Details: Should...

    18 Feb, 2022

    6 min read

    READ MORE
  • icon

    What Are the Risks of...

    19 May, 2022

    7 min read

    READ MORE
  • icon

    Top 4 Biggest Common Crypto Scam

    21 May, 2022

    8 min read

    READ MORE
  • icon

    How To Use a Moving...

    07 May, 2022

    6 min read

    READ MORE
  • icon

    Mutual Funds Investment...

    27 May, 2022

    5 min read

    READ MORE
  • icon

    Capital Gains Tax

    23 Mar, 2022

    5 min read

    READ MORE
  • icon

    Nirmala Sitharaman’s Success Story

    26 Mar, 2022

    5 min read

    READ MORE
  • icon

    Why Gold Rate is...

    13 May, 2022

    5 min read

    READ MORE
  • icon

    Russia vs Ukraine War:...

    10 Mar, 2022

    7 min read

    READ MORE
  • icon

    A Beginners Guide To...

    02 May, 2022

    7 min read

    READ MORE
  • icon

    Top 7 Types of Investment...

    11 May, 2022

    8 min read

    READ MORE
  • icon

    Mark Zuckerberg's Success...

    25 May, 2022

    5 min read

    READ MORE
  • icon

    Sundar Pichai: Success...

    31 Mar, 2022

    6 min read

    READ MORE
  • icon

    Top 10 Most Inspirational...

    27 Apr, 2022

    7 min read

    READ MORE
  • icon

    What are Indirect Taxes?

    15 Mar, 2022

    7 min read

    READ MORE

Translate the power of knowledge into action. Open Free* Demat Account

* T&C Apply

Latest Blog

Ready To Trade? Start with

angleone_itrade_img angleone_itrade_img

Subscribe to #SmartSauda Newsletter

Open an account