Nykaa founder Falguni Nayar on Wednesday became India's wealthiest self-made female billionaire. She also became India's seventh woman billionaire. Let us have a look at who is she and her journey so far.
Falguni Nayar did her graduation from Indian Institute of Management, Ahmedabad, and has spent over 18 years at Kotak Mahindra Capital Co. She resigned in 2012 to start her own dream company. At the time, her children had gone to college in the United States.
The 58-year-old Falguni Nayar, the founder, Executive Chairperson & Managing Director and Chief Executive Officer of the company, has over 26 years of experience in e-commerce, investment banking and broking. She founded Nykaa in 2012 & created an app to order makeup and hair-care products during a time when women visited stores for the same. The startup since grew to become the country's leading beauty retailer. Nykaa went on to become a top company endorsed by celebrities and its social media friendly-ness also helped it along by leaps and bounds. Nayar, who had previously led an investment bank, became the lifeline of the company.
Nykaa also opened their own line of beauty products as well as selling products of other companies on their platform. Nykaa currently sells items ranging from exfoliation creams, bridal make-up essentials and to lipstick and nail colours. According to the prospectus filed by the company in March, Nykaa sales surged 35% to USD 330 million in the previous fiscal year. Nykaa is currently the leading unicorn in the market and keeps growing with potential. The company has a diverse portfolio of beauty, personnel care, and fashion products, including its own manufactured brand products, under its two business verticals -- Nykaa and Nykaa Fashion.
When shares of Nykaa's parent FSN E-Commerce Ventures skyrocketed over 79 per cent in debut trade on Wednesday, founder Falguni Nayar and family also saw their wealth surge to nearly USD 7 billion. The dream debut of Nykaa, in a market being flooded with initial share sales, sustained the momentum till the close of the trade as the scrip registered a staggering gain of over 96 per cent to end at Rs 2,206.70 apiece on the BSE. The market valuation of Nykaa -- in which Falguni Nayar and family owns over 54 per cent -- stood at Rs 1,04,438.88 crore on the BSE.