Falguni Nayar: India’s Self-Made Billionaire

Falguni Nayar is an alumnus of IIM Ahmedabad, a management consultant and the managing director at Kotak Mahindra Capital, and then the founder of Nykaa.  Nayar has come a long way in setting up her own business and becoming India's self-made woman billionaire. Her vast experience in management helped her effectively drive her business and lead it to success. Let's take a look at her life and journey. Early Life & Education Born into a Gujarati family on 19 February 1963. In her childhood, she saw her father run a bearings company. She was amazed and inspired by the world of business and the market. She pursued her Bachelor's in commerce from the Sydenham College of Commerce and Economics. Later, she pursued her Master's from the Indian Institute of Management Ahmedabad. Falguni Nayar: Personal Information Full Name Falguni Sanjay Nayar Date of Birth 19th February 1963 Place of Birth Mumbai, Maharashtra Spouse Sanjay Nayar Children Adwaita & Anchit Nayar Occupation Consultant, Investment banker, Entrepreneur Position Founder & CEO, Nykaa Education B.Com, MBA-IIM-Ahmedabad She met Sanjay Nayar (currently the CEO of Kohlberg Kravis Roberts India) during her time at IIM. The two got married in 1987 and had two kids, Adwaita Nayar and Anchit Nayar, who are currently leading top positions in their mother's business. While Adwaita is the CEO of Nykaa Fashion, Archit heads the retail and e-commerce businesses. Falguni Nayar: Career Management Consultant at A.F. Ferguson & Co. Managing Director at Kotak Mahindra Capital Founder & CEO of Nykaa “I started Nykaa at the age of 50 with no experience. I hope the Nykaa journey can inspire you to be the Nykaa of your lives”                                                                                          ~ Falguni Nayar Birth & Success of Nykaa Having grown up in a Gujarati family, Falguni acquired many traits of her roots and had a keen interest in business. She left her job at the age of 50 to start her own business. Nykaa founder's story defines the proverb "Better late than never." Being a connoisseur of beauty products, she decided to open her own retail business with many beauty products on a single platform. In 2012, she officially founded her retail business, naming it Nykaa, which is derived from the Sanskrit word Nayak, meaning the protagonist/hero. She started with just three employees in a space provided by her father. In the beginning, they faced a lot of difficulties. However, things changed gradually and the website started getting famous in 2013, with sales graphs rising.  Consequently, Adwaita Nayar quit her job to join her mother's business and push Nykaa to new heights. From selling just 100 orders in the first year to becoming one of the largest online retailers in India, Nykaa's journey saw its ups and downs to become the unicorn of India in 2020, led and founded by a woman. Today, Nykaa has over 1.5 million orders a month, which is handled effectively and efficiently by the team. Nykaa is growing to larger scales in offline and online markets, and tracking its expansion activities only gives a little insight into how far it will go. Falguni Nayar: Awards & Recognitions Businesswoman of the Year at the Economic Times Awards for Corporate Excellence, 2019. Asia's Power Businesswomen, 2019 by Forbes Asia. Business Person of the Year, 2019 by Vogue India. FICCI Ladies Organisation (FLO) Award Woman Ahead Award: The Economic Times Start-Up Awards 2017 Indeed, it is “better late than never” to go after your dreams and goals in life. Falguni Nayar is a shining example of perseverance and dedication in the Indian business, where most of the unicorns are owned and headed by men. Her story paves the way for future inspirational stories of women entrepreneurs in India. Read more: Radhika Gupta: The Shark Who Kept Her Head High In Face Of Adversity