The Queen of Indian Beauty Business: Falguni Nayyar
The news of Falguni Nayyar becoming India’s first wealthiest self-made billionaire in November as Nykaa(Its parent entity) entered the stock exchange really made all of us go in awe. Falguni Nayar recorded a net worth of $6.5 billion in 2021 and became the richest self-made woman billionaire of India and also entered the list of the top 20 richest people of India.
Falguni Nayyar was born in Gujarat and brought up in Mumbai. She graduated from Sydenham College of Commerce and Economics and later studied business in IIM Ahmedabad. Entrepreneurship is in her blood as stated by her in an interview, Her Father ran a small bearings company. She worked as an investment banker and later became the Manager Director of Kotak Mahindra Bank for 19 years before starting Nykaa in 2012.
Let me now state a few key learnings that would help all of us:
- Falguni was a few months less than 50 years old when she started Nykaa.
She knew nothing about fashion and technology. But all she had was an idea to turn into a vision. A vision to build something for Indians like Sephora.
- She’s an inspiration and wanted us to be inspired
She said “.I wanted to stand for those women who want to be beautiful for themselves, not for men or other women. Indian women were ready for that and that’s why they related to Nykaa. It was a type of empowerment.”
- She was judged for having left a successful job
When she switched her job as an investment banker after 20 years and made a shift to the beauty industry, everyone was a naysayer. Well, It’s the typical Indian mentality. Never let a woman achieve something on her own. Even though she had a successful career, she wanted to try something new. She had the determination and will to accomplish it
- It is important to dream
In an interview, she said “In a world where women face additional barriers for wanting to fulfil their dreams, Nayar said, “For young women, I would say that you are the centre of your own life. I see women trying to meet the requirements of their families and not chase their own dreams. You are the most important person in your life. It’s important to dream.”
- Victories come from preparation and opportunities
Falguni started Nykaa because she wanted to bring all brands under one roof for India. She thought that Indian beauty was lagging behind other countries, So she started Nykaa, a similar structure to Sephora. With the booming of e-commerce, She thought it was just the right time to start a new venture
We need to learn the fact that women can achieve anything just like men. Especially, men should be supportive of women and their dreams like a woman being supportive of her family. No one deserves to be deprived of an opportunity. Falguni along with her success carries a message of empowering people.
That’s enough inspiration for the day I guess. I know there’s a pile of clothes stacked at the corner of your room waiting to be washed you’re too lazy to even get up from your bed. Don’t worry!
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