Falguni Nayar, the dynamic Founder and CEO of Nykaa, has etched her name into the archives of Indian business history with her relentless pursuit of excellence and innovation in the beauty and lifestyle retail sector. With a remarkable journey that spans from consulting at A.F. Ferguson & Co. to helming businesses at Kotak Mahindra Bank, Falguni Nayar’s vision has transformed Nykaa into India’s leading beauty retailer.
In 2012, Falguni Nayar embarked on a journey to create a multi-brand omnichannel beauty-focused retail business, Nykaa. Her vision was simple yet transformative: to empower customers with choices and provide brands with a platform to reach every corner of India. Over the past decade, Nykaa has played a pivotal role in developing India’s beauty market, a testament to Falguni’s unwavering commitment.
Under Falguni’s leadership, Nykaa has become a household name, boasting a diverse portfolio of 1500+ brands, including its successful private label. With a strong online presence and 145 brick-and-mortar stores across India, Nykaa has captured the hearts of beauty enthusiasts nationwide. Notably, the company’s revenue exceeded Rs. 1200 crores in FY19 and is poised to surpass Rs. 2000 crores in FY20, a testament to Falguni’s exceptional leadership.
Falguni’s entrepreneurial spirit doesn’t stop at beauty retail. Nykaa has expanded into various verticals, including Nykaa Fashion, a fashion-first, style-led curated fashion platform. This diversification underscores her ability to identify and capitalize on emerging market opportunities.
Falguni’s remarkable achievements have not gone unnoticed. She received the ‘Woman Ahead’ award at the Economic Times Startup Awards in 2017 and was named Businesswoman of the Year at the Economic Times Awards for Corporate Excellence in 2019. Forbes Asia recognized her as one of Asia’s Power Businesswomen in 2019, and Vogue India named her Businessperson of the Year in the same year. Most recently, Ernst and Young honoured her with the EY Entrepreneur of The Year 2019 – Start-up Award.
In addition to her role at Nykaa, Falguni serves on the boards of several prominent companies, including ACC, Dabur, Endurance Group, and Tata Technologies. Her influence extends beyond the beauty industry, showcasing her ability to drive success and inspire change across diverse sectors.
Falguni Nayar’s journey from a consulting career to becoming a celebrated entrepreneur exemplifies the power of vision, determination, and innovation. With Nykaa’s exponential growth and her numerous accolades, she stands as an inspirational figure in India’s business landscape, showcasing what is possible through unwavering dedication and a commitment to excellence. Falguni Nayar’s legacy continues to shine brightly, and her influence on the beauty and retail industry is nothing short of transformative.
Check out her LinkedIn profile.