4 things Falguni Nayar believes in that have made her India’s richest woman billionaire
Falguni Nayar, CEO and founder of beauty e-commerce chain Nykaa, recently became the richest self-made woman billionaire, after the stocks of her company received stellar response at the Dalal Street when it got listed at the markets. It was a bumper debut for FSN E-Commerce Ventures, when the market went past Rs One Lakh Crore after the stock started trading.
“For everyone across India who has ever had a dream, especially women, I hope the Nykaa journey – an Indian-born, owned and managed dream come true – can inspire each of you to be the Nykaa of your lives.”
Driving her phenomenal success are a few mantras she has strongly believed in through her career.
Age is just a number
Falguni Nayar started her company Nykaa, just a few months short of age 50. She had been working as an investment banker for nearly 20 years and quit her high-profile job to start something that she was passionate about. She also doesn’t believe in patriarchy and glass ceilings.
“I think women have to want it for themselves. And if they want it for themselves, they will have it.”
Dare to dream
Falguni Nayar was always clear that she wanted to do something which was not being done and people did not believe in. Starting a beauty and fashion business selling third-party beauty products to launching their own products to entering the fashion market, Nykaa had grown by leaps and bounds. Starting a new B2B portal is next on the cards. It takes courage to visualise something that has not been done but the rewards are high.
“We have always believed in the whole ecosystem benefiting from what we are doing.”
Leverage what’s available
The way Nykaa grew is not typical of a tech startup company. They relied on the creative talents of young millenials for their creative talent, synergies with influencers and high-profile brand ambassadors at a time social media and internet was beginning to be the vehicle of consumption for tech savvy women. As of now, tier 2 and tier 3 cities are driving growth, with 70+ stores in more than 30 cities. Being an omnichannel retailer helped them grow, as well as making hyperlocal deliveries of essential products.
Professionalism counts
Family ownership and involvement go a long way in building a business but Falguni Nayar has additionally relied on professional talent to evolve. At present she heads a team of 1,600 people and growing.
Investors, entrepreneurs and women are inspired by Falguni Nayar’s belief system and strong work ethos. The industry is competitive but Nykaa has its feet firmly on the ground.
You too can contribute to BeStorified and featured as a contributor. Read here for details.
