How Falguni Nayar Broke the Glass Ceiling for Women Entrepreneurs
Nykaa is mostly geared toward women. A choice was made to create Nykaa Man, a separate site for the male population. #ThinkWithNiche
Although since Nykaa's record-breaking capital raising on November 10, Falguni Nayar, 58, was and is the center of attention. Nayar's FSN E-Commerce Investments Ltd's Initial public offering of 5,352 crores was roughly 82.5 twice oversold. However, the woman did not stop the success from knocking her way. The day after, the operating cash flow surpassed over one crore. As shown in the Bloomberg News stating their Billionaires index, Nayar now holds 52.56 % of the firm, is India's wealthiest woman entrepreneur who built this empire herself, with a total wealth of $7.03 billion (52,794 crores) as of November 26.
Falguni Nayar began her career as a managing director at Kotak Mahindra Capital. At the same time, she was fully fluttering to give a shot for another career option. In 2019, Falguni finally idealized becoming a full-fleshed entrepreneur. Falguni Nayar later worked on e-commerce brand Nykaa from April 1, and by April 21, she had established her firm, FSN E-Commerce Investments Pvt Limited She employed 3 staff around May first week. She began at her father's little office stationed at Lower Parel, Mumbai, which would back in those times accommodate hardly ten to fifteen individuals at a time. It was the 1st of October when the website, Nykaa's officially launched. Nayar adds. In 2013, January, the online portal Nykaa.com started to function in full swing.
Considering that perhaps the vogue trade was predicted to be five to seven times twice the mass of the cosmetics market, Nayar felt confident in his desire to accept it. As per reports by Statista, the Fashion and lifestyle sector in India is estimated to increase by an average of 10.14 percent over the same period to 2025, culminating in global sales of $25,743 million (about Rs.1.93 crores). Sartorial Revenue surged at 256 % in12-month to achieve 665.6 cr in Fiscal 2020, 2 decades afterward. After Q2FY22, it had 2 million yearly active transactional clients, up 417 % year over year. Nykaa Fashion expanded into children's, womenswear, men and household categories, transforming the company into a luxury label.
Nykaa's Apparel brand is presently a cross marketplace with around 1,500 other renowned brands, including 5 of which are unique, 2 of which it has bought, and 3 of which it has established from the ground up. Nykaa Beauty and Nykaa Fashion are two different firms. Because Nykaa is mostly geared toward women, the choice was made to create Nykaa Man, a separate site for the male population. As per Global Industry Analysts, the Indian male beautification industry was worth $643 million (Rs 4,828 crore) in the industry is expected to rise at a CAGR of over 11% to reach $1.2 billion (Rs 9,010 crore) by the end of 2024.
Falguni Nayar's opponents scoffed at her decision to enter the business landscape at the age of 49, but she persevered because of her courage, dedication, and enthusiasm. Entrepreneurialism is a risky endeavor that demands bravery. Expertise and maturity aren't downsides.