If we talk about the countries with the highest numbers of billionaires globally, it is The United States of America, who leads the way with 735 billionaires. The second spot goes to China, who has 539 billionaires, and the country that holds the third position in the list is India, with a total of 169 billionaires. In recent years, we have witnessed a rise in the number of women entrepreneurs in India. One such billionaire entrepreneur is Falguni Nayar. The 60-year-old billionaire is the Founder and CEO of one of the biggest beauty and wellness brands in the world, Nykaa.
In the last 10 years, Falguni Nayar has made Nykaa a global brand and inspired many young entrepreneurs in India with no financial support. The billionaire businesswoman started the company from scratch with the aim that one day she would make her brand, Nykaa, the biggest name in the Indian cosmetics marketplace. Well, it’s clearly visible that she has achieved what she dreamt of and has proved that a middle-class Indian can dream big, just like her.
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As of now, in 2023, Nykaa has more than 70 retail stores in India’s 30 cities. Also, the brand will continue to spread its circle even more in the coming future. It was in 2020 when Nykaa went global and started operating in Australia, intending to broaden its presence in the international market.
While the company continues to thrive towards bigger milestones, people often search ‘What is the meaning of Nykaa?’ on Google. Well, for those curiosity-heads, Nykaa is a name derived from the Sanskrit word Nayaka, which means an actress or a woman, who is in the spotlight.
Well, kudos to Falguni Nayar for taking her cosmetic company to its actual meaning with years of hard work. While everyone is aware of the success that Falguni Nayar continues to achieve with Nykaa, only a few know about the beginning of her journey and other lesser-known facts about the Indian billionaire businesswoman. So, without further ado, let’s get straight into Falguni Nayar’s unknown facts that every entrepreneur or customer of the brand should know.
Once in an interview with Film Companion, Falguni Nayar shared how she was quite scared about leaving her job. The entrepreneur admitted that when she told her son about leaving her banking job and starting her own company, even he was in a bit of shock. Falguni also added that she asked her son to reveal whether her decision to open her own company could go horribly wrong, and he said, "Definitely". In her words:
"I think they thought that because I already had such a successful career in a company that was growing well, there was no reason for disappointment with what I was doing…I asked my son, ‘Do you think this can look like a midlife crisis?’ He said ‘Definitely’."
The famous businesswoman, Falguni Nayar was born on February 19, 1963, in a middle-class Gujarati family in Mumbai. Her father was a businessman, and her mother used to assist him in his small company, which reportedly used to make bearings. Talking about the educational background of Nykaa’s owner, Falguni Nayar, she completed her Bachelor's degree in commerce from the University of Mumbai. However after which, she moved to the Indian Institute of Management, Ahmedabad, from where she obtained her Master's degree in business administration.
After completing her education, Falguni Nayar started her professional journey as an investment banker at the famous Kotak Mahindra Bank. The businesswoman worked in the reputed bank for almost 20 years. During her two decades of professional journey at KMB, Falguni Nayar, who joined the bank as an investment banker, became the company's Managing Director, which clearly speaks volumes about her skills and knowledge.
It was in 2012 when Falguni Nayar took the biggest decision of her life, as she left her banking career when she was at her peak to start her own company. It was a scary decision, but Falguni was convinced and motivated enough to take the leap of faith. With her 20 years of experience in the banking industry, Falguni started her company, Nykaa and introduced herself to the Indian e-commerce jungle. The entrepreneur chose to headquarter her company in the city of her birth, Mumbai.
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When Falguni Nayar thought of giving up on her successful banking career and was motivated to face the consequences of starting her own company, she was married and a mother of two kids. Both her kids were studying overseas, and she thought that it would be the best and last chance for her to give a shot at her dream.
However, the most motivating factor about it is the shocking fact that Falguni Nayar was 50 years old when she started Nykaa. At an age when most people think of retirement, Falguni started her entrepreneurial journey, which deserves a huge applause.
Talking about Falguni Nayar’s happy married life, she is married to Sanjay Nayar. The couple got married back in 1987. The two met at a business school, and after a few meetings, they formed a bond that went on to change their lives forever. Sanjay Nayar is the CEO of Kohlberg Kravis Roberts India.
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The entrepreneur couple, Falguni Nayar and Sanjay Nayar are blessed with twin children, Adwaita Nayar and Anchit Nayar. While their daughter, Adwaita serves as the Co-founder of Nykaa, their son, Anchit is the CEO of Beauty E-commerce at Nykaa. For the unversed, Adwaita Nayar is married to Anubhav Gupta.
With so much success and global expansion plans on the table, Falguni Nayar’s Nykaa has managed to curate over 850 brands and is the birthplace of more than 35,000 products. The company’s target audience is aged between 22 to 35 years, and it is currently one of the leading names in India’s beauty and wellness sector. According to Forbes India Rich List 2022, Falguni Nayar’s net worth is around Rs. 32,951.71 crores.
The self-made billionaire, Falguni Nayar, is an inspiration for so many people and clearly proves that age is nothing but a state of mind.
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