“Hailing from a finance background, I have seen number of companies at their best and worst,” claims the ex-Kotak Mahindra MD and now Nykaa’s CEO. The entrepreneurial instinct had bug her long back as her job role at Kotak involved her getting in touch with various startups and their entrepreneurs. It was destined for Nayyar to be an entrepreneur someday and she is seen to have successfully established what she had always dreamt of. Let’s flip through the pages of her history.
What sparked the Initiation?
“I wanted to be a multi-brand retailer for beauty, a little on the lines of Sephora. I once walked into a Sephora Store and was amazed by the profusion of brands, the beautiful displays and the women behind counters who offered advice, sold beauty products and helped women discover a whole new side to themselves,” reminisces Flaguni Nayyar.
Former investment banker and the present beauty Moghul of India, Falguni Nayar is the creative disruptor behind Nykaa.com. Nayar has without any help changed the essence of excellence business in India. Having a multiyear long profession as an investment broker; it has helped Nayyar in strategizing the module of Nykaa uniquely in contrast to an innovative point of view. From well-known beauty brands like Estee Lauder to homegrown labels like Forest Essentials and Lakme are all listed on her website. Her thought was to cross over any barrier between Indian ladies and their affection for everything excellence.
Towards an Innovative Path
An IIM Ahmedabad graduate, Nayyar firmly believed that online retail is the best and quickest way to reach consumers across demographics and distances, and this realization led her to launch Nykaa.com in late 2012. Though initially there were hell lot of complaints in her untimely delivery module but she managed to sort it out.
Though initially Nayyar underestimated the power of technology, but soon she realized the importance of hiring people with the right skill sets and building a strong technologically advanced team. Doing a complex business empowered by technology, today Falguni has opened her mind to welcoming new trends and technologies.
Keeping up a work-life parity would not have been conceivable without the help and comprehension from her family, particularly her significant other and kids. Her adoration for experience and natural life has made Africa Falguni’s most loved escape. She likewise venerates visiting nations that brag old developments and archeological fortunes, particularly Egypt, Kenya and Tanzania.
Nykaa has around 850 curated, much valued and certifiable brands with more than 1 lakh items. It offers a far reaching determination of cosmetics, skincare, hair care, aromas, shower and body, extravagance and health items for ladies and men. “We aim to please, going to the farthest corners of the country to reach you,” says its website. In 2015, Nykaa had commenced her offline retail outlets as well along with only expanse. With the opening of five Nykaa Luxe stores in Mumbai, Delhi and Bengaluru, this entrepreneur has also opened up a physical store in New Delhi‘s international airport.