Falguni Nayar, the owner of the beauty-products company, Nykaa, becomes the country’s wealthiest self-made woman. She is also the seventh women billionaire of India. Falguni Nayar is taking Nykaa to greater heights with every passing day. The company has now issued an IPO and has gone public.
Falguni, the CEO of the company, says that the best thing was that they could look at what was happening beyond the tier-1 cities like Delhi or Mumbai. Once an IPO banker at Kotak Mahindra, Nayar started Nykaa in 2012. Since then, the company has been performing very well, with its beauty products used by a significant population. Nayar says that when she started in 2012, it was challenging to convince people of the various beauty products, considering that India is a very diverse country. However, beauty was a major business in countries in Europe and other regions.
“It Was Challenging To Teach People Digitally”- Falguni Nayar
Additionally, Falguni Nayal was 49 when she opened her business. Nothing that we do is void of challenges. She says that starting was difficult as people were not exactly into internet shopping; Nykaa started with selling beauty products on its app and website. So, the key for the organisation was to teach people about their products and that too digitally.
The best part about Nykaa, as a customer says, is the variety of products the company sells. Additionally, she also shares that the company sells different global products that one cannot get anywhere else in the country. Nykaa is extremely popular among young girls, especially as they are the most frequent users of beauty products. Now, even men have started using beauty products, and it will be no surprise that we see more and more of them buying these beauty products.
Nayar owns a 50% share of the organisation. Her current worth is $6.5 billion. What started as a business in 2012 is now making history in 2021. Nayar says that all she can do right now is hope that the Nykaa journey inspires people to keep following their dreams.
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