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Success story of Falguni Nayyar

By: Sakshi Mishra


Falguni Nayyar CEO Nykaa

The success story of Falguni Nayar, founder of the multi-brand beauty retailer Nykaa, is a
testament to the fact that with the right training, education and support women can conquer
any height. She has built an empire that started off with a humble beginning, but now stands
tall at 200 crores!

Falguni Nayar, who is an IIM Ahmedabad alumnus, was the former Managing Director at
Kotak Mahindra Capital Company, which she gave up to pursue the dream of becoming an
entrepreneur. This choice of leaving a fruitful career behind and entering the world of
entrepreneurship was driven by two factors: 1) Her love for makeup, and 2) Her curiosity to
explore the online marketing platform which she recognized to have a lot of potential
She hails from a Gujarati family, but was born and brought up in Mumbai. Her father was a
businessman and she says that the seed of business was planted into her mind at a very young
age. She also has said that the stock market and trade were common topics of discussion in
her house.After graduating from IIM, Ahmedabad, Falguni Nayar spent 19 years working as
an investment banker with the Kotak Mahindra group. In 2005, she took over as the Managing
Director of the investment banking business post which she spearheaded the firm. It was in
the year 2012 that she decided to take the huge leap of faith, by quitting her job at the age of
50 and embarking on an entrepreneurial journey. She was quick to discern that beauty was an
untapped market in India and was on the way to experiencing an explosion. As for her interest
in business, she drew strength from entrepreneurial giants like Ronnie Screwvala of UTV and
Ajay Bijli of PVR Cinemas. Their confidence and readiness to take risks in life inspired her a
Nykaa was founded in 2012 and the idea came to her when she started feeling confident and
empowered at being guided through the right way of using beauty products and being told
which are the right products to be used. She got this experience at multi-brand beauty stores
like Sephora, and Falguni, in spite of not being a regular consumer of beauty products, felt
attracted to buy those worth hundreds of dollars owing to the right guidance. She felt the
need to replicate this India. She also wanted the women of India to feel empowered.
“I wanted to replicate that in India — a multi-brand retailer selling the best beauty, plus a lot
of education to help customers...I wanted to stand for those women who want to be beautiful
for themselves, not for men or other women. Indian women were ready for that and that's
why they related to Nykaa. It was a type of empowerment.”- Falguni Nayar
Nykaa was founded in 2012 and the idea came to her when she started feeling confident and
empowered at being guided through the right way of using beauty products and being told
which are the right products to be used. She got this experience at multi-brand beauty stores
like Sephora, and Falguni, in spite of not being a regular consumer of beauty products, felt
attracted to buy those worth hundreds of dollars owing to the right guidance. She felt the
need to replicate this India. She also wanted the women of India to feel empowered.
“I wanted to replicate that in India — a multi-brand retailer selling the best beauty, plus a lot
of education to help customers...I wanted to stand for those women who want to be beautiful
for themselves, not for men or other women. Indian women were ready for that and that's
why they related to Nykaa. It was a type of empowerment.”- Falguni Nayar
With Falguni Nayar at the helm of Nykaa’s journey, the brand is sure to see more and more success in the
coming years. The brand primarily focuses on women empowerment and provides great career options for
women.

‘Think big, but start small’- Falguni Nayar, CEO, Nykaa