A brief but sufficient information of NYKAA (the leading cosmetics and lifestyle brand founded by FALGUNI NAYAR), from the initial level to becoming the biggest lifestyle brand of india.
How FALGUNI NAYAR went on to become the second richest women in india. Recently IPO of NYKAA was also launched.
6. Falguni Nayar is an Indian businesswoman and billionaire who is the founder
and CEO of the beauty and lifestyle retail company Nykaa.
Nayar was born and raised in a Gujarati family in Mumbai, Maharashtra. She
from Sydenham College of Commerce and Economics and a postgraduate from
Institute of Management Ahmedabad.
In 1993, Nayar joined Kotak Mahindra Group for 19 years. In 2005, she was
managing director and exited in 2012.
In April 2012, at the age of 50, she founded Nykaa with $2 million of her own
Nykaa was worth $2.3 billion as of 2021 bringing Nayar's fortune to an
billion.
Nayar is one of 2 self-made female Indian billionaires, the other being Kiran
Shaw. Nykaa listed at $13 billion on Nov 10 2021 making Nayar India's richest
Falguni Nayar
8. Nykaa - Business Model
Nykaa is a D2C consumer products eCommerce brand, which relies on
an inventory-based business model. The company purchases its
products directly from the manufacturers and keeps them in its
designated warehouses located in New Delhi, Mumbai, and Bangalore.
These products are sold either on the website of Nykaa or through its 3
offline store formats: Nykaa Luxe, Nykaa On Trend, and Nykaa Kiosks.
The inventory-led model of business of the company helps the company
witness high-profit margins and has resulted in a profitable business.
Besides, the company also ensures the authenticity of products and
follows competitive pricing.
9. Nykaa - Growth
Nykaa currently boasts of having over 5 million monthly active
users. Here's taking a look at some more growth highlights of
the brand, as of October 2021:
•Nykaa claims to have over 15 million registered users.
•It has 70+ stores across India.
•The company boasts of having over 500 brands.
•Nykaa is packed with over 130,000 products that can be
accessed from its website, through its app, or at its stores.
10. Story of NYKAA
After Falguni left Kotak Mahindra, she started seeking opportunities to become an
entrepreneur.
Falguni Nayar got the idea of starting Nykaa when she once walked into a Sephora
store.
She was amazed by the variety of brands available at the store.
She bought products worth hundreds of dollars.
The sales associates showed her the best way to use them.
They recommended her best beauty products without any bias.
She felt that there is a dearth of multi-brand chains in India in beauty and wellness.
At the age of 50, Nayar gave up her stellar career at Kotak Mahindra and turned into
an entrepreneur.
That’s how Nykaa Business Model was formed.