The title might make you think harder and those who have guessed it already it is non-other than Falguni Nayar.
Falguni Nayar has created a history for many to remember just like KFC. She is a definite example of how to take risks in life.
As a woman, she is hope and inspiration to many women entrepreneurs who have dared to dream.
Who is Falguni Nayar?
Falguni Nayar is a graduate of Sydenham College of Commerce and an MBA from IIM Ahmedabad.
The education that many have but her vision and attributes have made her achieve her dreams into reality.
Falguni Nayar joined Kotak Mahindra Group in 1993. In 2009 she was appointed as Managing Director.
She worked with dedication and creativity.
When she was nearing her 50th birthday she thought she would become complacent. Kotak Mahindra had become her comfort zone. She had achieved all her milestones of a great career in Kotak Mahindra.
Falguni Nayar always had a deep desire for entrepreneurship. She once quoted that being a Gujarati entrepreneur was in her blood. Her decision-making style even in her regular always depicted entrepreneurial actions.
The turning 50 and her twin kids setting off to US colleges for higher education was imposing a great pressure to achieve the unachieved.
Falguni Nayar’s personality was different, she loved adventure and risks. She once quotes the given situation to take a jump. She would be the first to jump and explore without thinking about the risks.
The beginning of a new Adventure called Nykaa
She started Nykaa a luxury online retail platform. It aimed at providing luxurious brands around the world that was not available easily in India, would be sold online. She started with this idea in 2012. Many opposed her saying, no one would shop expensive things online. Everyone thought this idea would fall face off in just months. The investment was high due to the luxurious cost and international trade involved.
Nykaa was founded by Falguni Nayar with her own money which was $2 million. Today Nykaa is a unicorn worth $2.3 billion in 2021.
Falguni Nayar is one of 2 self-made women Indian Billionaires.
Today Nykaa gets 15000 orders every day mostly from the age group of 22-35 and with a 100% retention rate. Nykaa sells 350000 products of 1500 brands of luxury and mass with 5 being their brands of Nykaa.
Nykaa has around 84 offline stores in 38 cities.
Falguni Nayar and her family trust still owns more than 52% of shares
Falguni Nayar’s jump was towards this adventure grew by 350% in just two years.
Nykaa launched its own homegrown products to fill the market gaps of the products that were in demand.
Nyaka started with nail Enamel paints and now they have kajal, lipstick, body mist, body lotions and many more to come.
Nykaa is the brand to have 120 nail enamel colours under one brand. This was Falguni Nayar’s strategy and it increased the business by 8-10 times.
Falguni Nayar gives some inspiring lessons about entrepreneurial Journey
- She doesn’t believe there is any glass ceiling for women. She thinks women need to commit to their goals.
- Enough and done are never used by Nayar. Her mindset always says “ what’s Next”. She never stops even when she has achieved more than her expectation.
- She believes in being a perfectionist. She says Retail is all about detail and one must be a careful observer.
- She says taking time off to think or start is okay but once you start something give your 100% to it.
- Without risk, there is no hope. Falguni Nayar focused on finding solutions and never had an option of quitting
The IPO was oversubscribed nearly 82.5 times. Nykaa’s shares debuted at ₹2,001 on November 10 read the full story here https://www.forbesindia.com/article/take-one-big-story-of-the-day/entrepreneur-at-49-billionaire-at-58-how-falguni-nayar-built-success-with-nykaa/71887/1
After the IPO listing, Falguni Nayar told her daughter,” Let’s start something New.”
Nykaa’s next big step is B2B business with its New Superstore idea.
Falguni Nayar’s Daughter is unsure about a new business however Falguni Nayar is already dreaming about a new business.
Falguni Nayar is a committed dreamer and achiever.
What do you think would be the next business of Falguni Nayar?
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