Falguni Nayar, the creator of cosmetics firm Nykaa, has become India’s wealthiest self-made female billionaire after the stock market launch of her company in November. The company’s value increased by as much as 89 per cent, bringing Nayar’s new net worth to around $6.5 billion. Nayar is India’s richest self-made woman billionaire, owning over half of Nykaa.
According to Bloomberg, Nayar is now among the world’s wealthiest people, thanks to Nykaa’s recent initial public offering, which was listed on the same day as the country’s IPO boom. Nykaa’s founder and CEO are now one of only six women billionaires in India, according to the Bloomberg Billionaires Index.
Nayar, who was born and raised in Mumbai, earned a bachelor’s degree in commerce and economics from Sydenham College of Commerce and Economics and a master’s degree in management from the Indian Institute of Management in Ahmedabad. She began her work as a consultant for AF Ferguson & Co., a management consulting business. She joined the Kotak Mahindra Group’s mergers and acquisitions unit in 1993. She was promoted to Managing Director in 2005. Falguni left her high-profile job at Kotak after 19 years to pursue her dream of being an entrepreneur. Nykaa, which is taken from the Sanskrit name meaning heroine, was launched by Nayar in April 2012 with seed investment.
Since then, the company has expanded to become the country’s biggest beauty retailer, with online sales skyrocketing. Exfoliation creams, bridal make-up basics, and hundreds of shades of lipstick, foundation, and nail colour are among the things available on Nykaa. According to its filing, sales increased by 35% to $330M in the fiscal year ending in March. Nykaa is one of the profitable companies, which is unusual among internet startups making their public debut. Not only Nayar but seven additional promoter entities & two family trusts own Nayar’s company share. Among the promoters is her Ivy League-educated daughter and son, who oversee different Nykaa units.
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