Nykaa founder and India's newest billionaire Falguni Nayar offers advice: 'Dare to dream'
FSN E-Commerce Ventures Ltd, the parent company of Nykaa, raised $720 million in its IPO and saw shares rise 96 per cent on its first day of trading on Wednesday. This put founder Falguni Nayar in the league of the world's richest.
Falguni Nayar, the founder of beauty startup Nykaa became the seventh self-made billionaire this week riding on the successful debut of the company on stock market following stellar initial public offer (IPO). And now, Nayar has some advice for people who have launched or planning to start their own start-up.
“Women need to allow the spotlight of their lives to be on themselves,” Falguni Nayar said in an interview after the trading debut. “I hope more women like me dare to dream for themselves.”
FSN E-Commerce Ventures Ltd, the parent company of Nykaa, raised $720 million in its IPO and saw shares rise 96 per cent on its first day of trading on Wednesday. This put Nayar in the league of the world's richest.
She became India's seventh woman billionaire and the wealthiest self-made billionaire. She owns about half of the company, and is worth almost $7 billion.
“India is going to be a huge retail market,” Nayar said. “Indians will aspire for more, their spending power will grow and they’ll increasingly spend on lifestyle brands and services. Nykaa is in a good place.”
Nayar started Nykaa in 2012, at the age of 50, after a successful career as investment banker. She saw an opportunity in giving customers easy online access to high-end beauty items, complete with tutorials and testimonials.
“We have built the company for multi-year growth to address a very large beauty and fashion e-commerce market in India,” she said on Wednesday.
She was born and brought up in a business environment in Mumbai. Her father ran a small bearings company; her mother used to help her father and words like investments, stock market, trade were very familiar to Nayar.
She studied in Indian Institute of Management, Ahmedabad, and after obtaining a management degree, started her career as a management consultant with AF Ferguson and Co. In 1993, Falguni joined the Kotak Mahindra Group and spent 19 years in various roles.