How Falguni Nair, Now India’s Richest Lady, Constructed a Rs 38,700 Crore Magnificence Empire

Nykaa founder Falguni Nair has now turn into India’s richest lady as per the IIFL Wealth Hurun India Wealthy Listing 2022, which was unveiled on Wednesday.

With a web price of ₹38,700 crore, the funding banker-turned-entrepreneur overtook Biocon’s Kiran Mazumdar Shaw, who was ranked 67th, and moved as much as thirty third within the prime 100 billionaires record.

The info confirmed that Nykaa, the flagship magnificence and wellness product firm of Nayar and his household, has grown by 345% within the final 12 months. She noticed her rank leap from 169th on the record, which incorporates Gautam Adani, Mukesh Ambani and Cyrus Poonawalla.

Falguni Nayari

The lone lady on the record, the 59-year-old, grew to become the second highest-paid lady this 12 months after Vedanta vogue tycoon Ravi Modi, who’s ranked fifth within the record of prime 10 greatest gainers. Nykaa’s property have grown by 1,388 per cent in a span of 5 years.

However, how did he do it? What helped him construct his empire? let’s discover out.

the start

After graduating from the distinguished IIM Ahmedabad, Nair began his profession in consulting with AF Ferguson & Co. She labored with Kotak Mahindra Financial institution, the place she would spend 18 years of her skilled life.

Throughout her tenure within the firm, she managed numerous companies and was additionally the Managing Director of Kotak Mahindra Funding Financial institution. The previous funding banker is a board member of Aviva Insurance coverage and Dabur India. She can also be an impartial member of the Tata Motors Board.

Falguni Nayari


After spending greater than 20 years in finance, she give up her job as an funding banker and entered the startup trade along with her on-line magnificence and private care retail enterprise. He based Nykaa with an funding of USD 2 million.

Their aim was to make high quality cosmetics simply obtainable to the Indian customers. “I began Nykaa on the age of fifty with none expertise. I hope Nayaka Yatra can encourage every certainly one of you to turn into the hero of your life,” Nayar mentioned earlier than itemizing his firm on NSE.

proper choices

Regardless of the challenges, as soon as they began investing in advertising and marketing, by August 2013, round Raksha Bandhan, demand picked up. He began getting 60-65 orders in a day.

When Nykaa participated within the second version of the Google On-line Procuring Pageant in December of that 12 months, the quantity jumped to almost 1,000 orders a day.


What makes Nykaa what it’s at the moment?

There have been sure traits and fashions that Nair didn’t undertake. One among them is the inventory-based mannequin on {the marketplace}, which most e-commerce gamers comply with.

The second was the idea of brand-funded gross sales. Nykaa’s technique was that if manufacturers needed to present a reduction, they cross it on to the customers. Some luxurious manufacturers don’t do that and as an alternative provide free merchandise.

One other well-liked development she didn’t comply with was the ‘magnificence field’ – an idea that was changing into well-liked not solely in India but in addition within the US. Prospects subscribe to them and each month the corporate sends 4 to 5 magnificence merchandise. After taking their pattern, the shopper decides to purchase it. Nykaa determined to not launch Magnificence Field.


The corporate’s income mannequin primarily works on the margin earned by promoting every product. As soon as a model turns into a part of the platform, your entire end-to-end advertising and marketing, together with digital promoting, influencer advertising and marketing, academic content material creation, is completed by Nykaa.

Based mostly on its cope with every model, Nykaa will get a margin for every product bought on the platform, which covers all costs- storage, overheads and transport.

the turning level

Nair has been the discuss of the city for the reason that firm’s blockbuster preliminary public providing (IPO) on November 10, 2021. Unicorn debuted on the inventory trade on tenth November 2021 and its market capitalization crossed INR 1 Lakh Crore in preliminary offers.

In accordance with a report in Financial Occasions, “Nayaka shares obtained listed on Wednesday with a hefty premium of over 79 per cent towards the problem value of Rs 1,125. The inventory opened at Rs 2,001 on the BSE (Bombay Inventory Change), displaying a leap of 77.86 per cent.

After this it elevated by 89.24 % to Rs 2,129. On NSE (Nationwide Inventory Change), it obtained listed at Rs 2,018 at a premium of 79.37 per cent. Within the latter a part of the day, the closing value of Nykaa shares on NSE and BSE was recorded at Rs 2,205.80 and Rs 2206.70 respectively.


By 2015, Nykaa launched its magnificence model with merchandise in areas the place it noticed some market gaps by way of value factors. After nail enamels, lipsticks, kajal sticks and physique mist in magnificence, in 2017 Nair forayed into a brand new section: vogue.

By the 12 months 2022, Nykaa has numerous bodily shops, 5 personal manufacturers and even Nykaa Community, an interactive magnificence platform.

Nayar, managing director and CEO of Nykaa, owns greater than half of the sweetness e-commerce enterprise along with her husband Sanjay Nair – India CEO of US personal fairness big KKR – and their twins: Anchit and Advaita.

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