That’s exactly what Falguni Nayar did — transforming her vision for accessible, trustworthy, and curated beauty into Nykaa, a billion-dollar empire..webp)
Who is Falguni Nayar
Falguni Nayar, Founder & CEO of Nykaa (FSN E-Commerce Ventures Ltd.), was born on 19 February 1963, in the bustling city of Mumbai, India, in a Gujarati family. Her father had a small family business in bearings, and her mother assisted in that business, introducing Falguni to hard work and intelligent business judgment early on.
As a child, growing up in the busy streets of Mumbai, she was fascinated by the business arena. This initial spark pre-determined her future. Falguni Nayar biography shows that she was determined and studied at Sydenham College of Commerce and Economics in Mumbai, where she received a Bachelor’s degree in Commerce. Not stopping there, she pursued an MBA in Finance from the Indian Institute of Management Ahmedabad (IIM Ahmedabad), graduating in 1985. These prestigious degrees gave her the arsenal to comprehend complicated financial systems and set her up to make a daring career.
From Banking Boardrooms to Building Nykaa
A graduate of IIM Ahmedabad, Falguni Nayar’s success story began with her career as a consultant at A.F. Ferguson & Co. In 1993, she joined the Kotak Mahindra Group, a large financial entity, where she started making her mark. She became the head of mergers and acquisitions, handling huge transactions, and was instrumental in establishing Kotak’s offices in London and New York.
By 2001, she moved back to India to take up even greater responsibilities. In 2005, she became Managing Director of Kotak Mahindra Capital and Director of Kotak Securities, breaking barriers in the male-dominated world of investment banking. For nearly 20 years, Falguni Nayar's work as an investment banker showed that women could rise to the top of the financial world through determination and excellence.
The BIG Shift
At age 50, however, Falguni made an unexpected decision — quitting her secure, well-paid job to follow a new dream. She believed there was a huge gap in India’s beauty market, where finding good quality products was a challenge. Her bold move proved that it is never too late to pursue your passion, even when you are already successful.
The Launch of Nykaa
In 2012, Falguni Nayar began her entrepreneurial journey using her own savings. The brand name “Nykaa” is derived from a Sanskrit word meaning “the one in the spotlight,” reflecting both her vision and her passion.
At 50, she launched an online platform to make beauty and wellness products accessible to all. From Indian to international brands, Nykaa stood apart with innovative marketing, brand ambassadors, social media campaigns, and customer-friendly return policies.
By 2015, Nykaa opened its first offline store. In 2016, it launched its own cosmetics line, followed by Nykaa Fashion in 2018. This multi-channel strategy turned Nykaa into a lifestyle powerhouse. By 2020, the company became profitable, and by 2023, it expanded globally.
Falguni Nayar’s success story is rooted in her vision of empowering women through choice and confidence — transforming Nykaa from a startup into an industry leader driven by passion.
Achievements and Recognition
Nykaa’s fortunes soared with its 2021 IPO, valuing the company at $13 billion. Falguni Nayar self-made billionaire status was cemented when she became India’s richest self-made woman, with a net worth of $6.5 billion. In October 2024, Forbes listed her family 89th richest in India with $3.64 billion. In 2022, she ranked 44th among India’s wealthiest people. Alongside Kiran Mazumdar-Shaw, she is one of the very few self-made female billionaires in India..webp)
Her achievements earned her recognition, including Forbes Asia Power Businesswoman (2019) and Vogue India Business Person of the Year (2019).
Family has been an integral part of her journey. Falguni Nayar husband Sanjay Nayar, whom she married in 1987, has been a strong supporter. Their twins, Adwaita (CEO of Nykaa Fashion) and Anchit (head of retail and e-commerce), are deeply involved in carrying forward the Nykaa legacy.
Proving It’s Never Too Late to Begin
Falguni Nayar’s journey stands as an example that ambition knows no age. Launching Nykaa at 50, she showed that courage paired with vision can transform industries, inspiring women everywhere to shatter glass ceilings and pursue their boldest dreams.
Her journey demonstrates the power of resilience, innovation, and empowerment. From her family business roots to a high-flying investment banker at Kotak Mahindra, and finally as the Nykaa founder, Falguni Nayar embodies the spirit of transformation.
At BIGSTORY, we celebrate visionaries who dare to rewrite the rules. Falguni Nayar’s success story isn’t just about building Nykaa — it’s about proving that bold dreams, even at 50, can inspire generations and change the face of industries.
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