Falguni Nayar, the visionary behind Nykaa, is one of India’s most celebrated entrepreneurs. From a successful career in investment banking to becoming the founder of one of India’s leading beauty and lifestyle e-commerce platforms, her journey is nothing short of extraordinary.
Early Life and Education
Falguni Nayar was born and raised in Mumbai, in a Gujarati family with strong business roots. Her academic brilliance led her to pursue commerce at Sydenham College and later an MBA in Finance from IIM Ahmedabad, one of the top business schools in India.
Corporate Career: From Banking to Beauty
Before stepping into the entrepreneurial world, Nayar had a stellar career in the corporate world. She spent nearly two decades with Kotak Mahindra Bank, where she eventually rose to become the Managing Director of Kotak Investment Banking. Her deep understanding of finance and business gave her a strong foundation, but she always harbored an entrepreneurial dream.
The Birth of Nykaa
In 2012, at the age of 49, Falguni Nayar took the bold step of quitting her high-profile job to launch Nykaa (derived from the Sanskrit word “Nayaka”, meaning the one in the spotlight). She identified a gap in the Indian market for a comprehensive online beauty store that offered authentic products and expert guidance—a model inspired by global beauty giants like Sephora.
Disrupting the Beauty Industry
Nykaa started as a pure online retailer offering beauty products, but under Falguni’s strategic leadership, it evolved into an omnichannel lifestyle platform, with a robust online presence and physical retail stores across India. The brand expanded into fashion, wellness, and personal care, while also launching Nykaa’s own line of beauty and fashion products.
What set Nykaa apart was its customer-centric approach, curated content, and genuine product offerings, which built immense trust among its predominantly female consumer base.
IPO and Billion-Dollar Milestone
In 2021, Nykaa became a publicly listed company, and its IPO was a landmark moment. It made Falguni Nayar India’s richest self-made woman billionaire, a title that underscores her incredible achievements in a male-dominated industry. With the listing, Nykaa’s valuation soared, and Falguni Nayar emerged as a symbol of empowerment and entrepreneurship.
Legacy and Inspiration
Falguni Nayar’s story is not just about business success—it’s a testament to courage, reinvention, and the power of dreams. Launching a startup at nearly 50 and building it into a unicorn shows that it’s never too late to chase your passion.
She once famously said:
“Think big, but start small. Don’t wait for everything to be perfect to begin. Take that first step.”
Today, Falguni Nayar continues to inspire millions of aspiring entrepreneurs, especially women, to break barriers and lead with confidence.
