Falugni Nayar is the second richest woman in India, with a net worth of more than one billion dollars according to Forbes list 2021.
After Nykaa IPO listed in Indian stock exchanges with a surge of 89%, Falguni Nayar got listed in Bloomberg Billionaires Index. She is the 7th Indian woman to get this feat.
Let’s discuss more about Falguni Nayar’s net worth in 2021 and the success story of Nykaa.
Table of Contents
Who is Falguni Nayar?
Falguni Nayar is an entrepreneur and CEO of the commercial beauty product Nykaa, one of India’s most significant online vogue and lifestyle portals.
With her arrival in beauty and skincare products, Falguni has capitalized on the market and created history. After running an online business, she established physical stores, further opened Nykaa luxury stores in premier destinations.
Nykaa has also paved the way for international beauty products and luxury brands to India, giving Indian customers all-encompassing products and services to choose from.
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Falguni Nayar Net Worth
Nykaa’s founder Falguni Nayar looks set to become a billionaire and India’s second-richest self-made woman. As per Forbes, Falguni Nayar’s net worth in 2021 is $7.7 billion post IPO. In Rupees, it will be 56,600 Crores INR.
Nykaa’s net worth is valued at ₹ 85 billion (US$1.1 billion), making it the first unicorn startup headed by a woman in India. A true example of women’s empowerment.
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Nykaa has become a symbol of beauty products. It has created an online chain and provides door-to-door services for several beauty products and international luxury brands. According to Forbes, Nykaa Co. has earned a profit of 40% as of 2020, making the company value to 3 billion.
This Multi-Brand retailer of cosmetics, Nykaa’s market-cap has raised to Rs 1.10 trillion. Its IPO sold existing shares of almost 42 million shares in the price band of 1,085 to 1,125 rupees.
This year, beauty and fashion retailer Nykaa has become the 3rd highest IPO after Zomato and Sona ComStar.
Falguni always believed in online business and was convinced that new generations would buy online. They will rely more on reviews and peer recommendations as a method of buying rather than have time to go to a store to buy, and with this belief, they started this online business.
The consumer is embracing this trend, and today the online business is increasing more rapidly than any other business. With her online business Nykaa has 35 physical stores with over 30 thousand products to offer to Indian women with national and international brands.
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How Nykaa Started
History has proven whosoever steps out of the box is considered once an idiot. The same happened with Falguni Nayar when she left her job and decided to chase her dream.
Falguni worked for Kotak Mahindra Capital Company for 20 years and left it in 2012 as Managing Director. To pursue her dream, Nayar didn’t wait for the right time or age. For people, it was foolish of her to drop the bank job as a managing director. But she jumped from all the hurdles.
The 50-year-old established e-commerce multi-brand Nykaa has gained national and international recognition for its beauty and cosmetics products.
Falguni knew that India does not give much importance to beauty and cosmetics products, so she took the privilege to start up her brand.
This idea came to Falguni’s mind when she went to a Sephora named beauty store to buy cosmetics, being not a big fan of makeup but realized that she spent too much on expensive cosmetics when it comes to skincare.
Soon she understands the service of salespersons, which help them with beauty products according to skin type, texture, and color, also telling them how to use it.
Such a service Nayar hasn’t seen anywhere else.
There she got the idea of bringing all the cheap and expensive high brand products under one platform so that both the urban and rural people can enjoy it.
In her early days, Falguni took the help of UTV owner Ronnie Screwvala and PVR owner Ajay Bijali. Today Nayar has 70 Nykaa stores in 34 states with over 400 brands and more than 40,000 products.
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Success Story of Nykaa
Forthcoming Billionaires always keep a bird’ eye view on customer reviews and feedback. She made the company’s catalog NYKAA Means Being In Spotlight with the tagline Your beauty. Our passion.
Nykaa opened its first online store in New Delhi. According to Forbes, Nykaa Co. has earned a profit of 40% as of 2020, which can make co. Value to 3 billion.
According to Gurugram consulting company Technopak till 2023, the business of beauty brands can reach up to 23 billion in India. In 2019, the company started a joint venture with Bollywood actress Katrina kaif named Kay beauty to reach their brand to more people.
Nykaa added new strategies and beauty bloggers to influence ordinary people. 1950 born initiated women to try the product before buying it. Nykaa claims to have more than 2500 brands which include every product from Mascara to Make up remover.
Falguni has earned many awards, including Most Powerful Women in Indian Business in 2011,2017, and 2019. Vogue Women Of The Year and EY Entrepreneur of the year in 2019.
No wonder why Net worth of Falguni nayar is going skyrocketed.
Early Life of Falguni Nayar
Falguni was born in Mumbai in 1970 on 19th February. Falguni is married to Sanjay Nayar, who holds an equal share in Nykaa. Both have studied at IIM Ahmedabad. Nayar has two children Anchit Nayar and Advita Nayar.
Anchit Nayar is ahead of the online store Nykaa where Advita was CEO of clothing retailer (Nykaa fashion) before that; she was Chief Operating Officer of Nykaa.
Falguni used to work for Kotak Mahindra Capital Company for 20 years and left it in 2012 as Managing Director to chase her dream.
Check out her linkedin profile to know more.
Conclusion
Nykaa conveys the message of Be the actress of your own life, Be the center of your own life.
Women have often seen meeting the family requirements and optimizing their life for the sake of their family and don’t usually pursue their dream.
Its not about Falguni Nayar net worth, its about the inspiration Falguni provided to women of India to optimize their life as they want to do it. Work for your dream and pursue your dream regardless of waiting for the right time or age.
The Success story of Nykaa will keep us invigorated for long.
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