At 50, when most people think of retirement, ๐๐ฎ๐น๐ด๐๐ป๐ถ ๐ก๐ฎ๐๐ฎ๐ฟ was planning a revolution in Indiaโs online beauty market.
With a clear vision of giving Indian women access to quality beauty products at the click of a button, she started ๐ก๐๐ธ๐ฎ๐ฎ.
1) ๐๐ผ๐๐ฟ๐ป๐ฒ๐ ๐ผ๐ณ ๐๐ฎ๐น๐ด๐๐ป๐ถ ๐ก๐ฎ๐๐ฎ๐ฟ
โก๏ธ Graduated from IIM Ahmedabad in 1985, one of the few women in her batch.
โก๏ธ Spent over 18 years at Kotak Mahindra Bank, rising to position of MD of its investment banking arm.
โก๏ธ Not many people would dare to leave such a prestigious position to start everything from scratch.
โก๏ธ She saw a gaping hole in Indiaโs beauty ecosystem and decided to fill it.
2) ๐ง๐ต๐ฒ ๐๐ฎ๐๐ป๐ฐ๐ต ๐ผ๐ณ ๐ก๐๐ธ๐ฎ๐ฎย
โก๏ธย Recognized that there was no reliable and consumer-friendly online beauty marketplace in India.
โก๏ธ She did not have a technical background or profound personal interest in beauty products, but an aim to bring both international and homegrown products to the fingertips of Indian Women.
โก๏ธย In 2012, Nayar quit her job and launched Nykaa from her fatherโs office with 3 workers.
โก๏ธ Nykaa is inspired by the Sanskrit word which means " One in the spotlight", perfectly echoing Company ethos to empower women.
3) ๐๐ฎ๐ฟ๐น๐ ๐๐ต๐ฎ๐น๐น๐ฒ๐ป๐ด๐ฒ๐ ๐ณ๐ผ๐ฟ ๐ก๐๐ธ๐ฎ๐ฎ
โก๏ธ Consumers were skeptical of buying beauty products online without testing texture or shade.
โก๏ธ Because they adopted Inventory model, they had to do everything from scratchโsupply chain, warehousing, delivery.
โก๏ธ Faced tough competition from Amazon and Flipkart.
โก๏ธ Global brands were hesitant to partner with a new Indian startup
4) ๐ฆ๐๐ฟ๐ฎ๐๐ฒ๐ด๐ถ๐ฒ๐ ๐๐ต๐ฎ๐ ๐๐ฒ๐ ๐ก๐๐ธ๐ฎ๐ฎ ๐ฎ๐ฝ๐ฎ๐ฟ๐ย
โก๏ธ By Following Inventory model, it had complete control over the supply chain and quality assurance.
โก๏ธ Positioning as trusted beauty advisor with beauty blogs, videos, and expert advice.
โก๏ธ Went omnichannel which enhanced brand visibility blending online discovery with offline touch.
โก๏ธ Introduced private-label brands focusing deeply on womenโs needs and buying behaviour.
5) ๐๐ฃ๐ข ๐ฎ๐ป๐ฑ ๐ผ๐๐ต๐ฒ๐ฟ ๐บ๐ถ๐น๐ฒ๐๐๐ผ๐ป๐ฒ๐ย
โก๏ธ Became a unicorn in 2020.
โก๏ธ Listed on stock exchanges in 2021 with IPO subscribed over 80x.
โก๏ธ First Indian startup to go public led by a solo woman founder.
โก๏ธ Nykaa's parent company posted a net profit of Rs 19 crore, almost double that reported in the year earlier.
6) ๐๐ฒ๐๐๐ผ๐ป๐ ๐ณ๐ผ๐ฟ ๐๐ป๐๐ฟ๐ฒ๐ฝ๐ฟ๐ฒ๐ป๐ฒ๐๐ฟ๐ย
โก๏ธ Powerful reminder that age should never be a barrier to pursuing entrepreneurial dreams
โก๏ธ Building trust with customers should be the top priority.
โก๏ธ Content isn't just a promotional tool, it is a way to educate customers.
โก๏ธ Entrepreneurship is not only about financial gain but also making a lasting impact on society.
Falguni Nayarโs journey shows that with right mindset, you can build a business that truly makes a difference in society.ย