Do you have any favourite businesswoman on your list?
Well, the business world has seen a rise in the roles of businesswomen lately. While the shift has been positive in every sense, we wonder if you know any successful Indian businesswoman. Today, we have the story of a woman entrepreneur whose dream to start a business overtook the stigma attached to her age. As they say, it's hard to quit a well-going job and take up the role of an entrepreneur at the age of 50, but Falguni Nayar has a big no to all this.
India saw the rise of startups in many product categories, and all thanks to Falguni's love for business and makeup, we got a unique online cosmetics and beauty platform, Nykaa! We are sure you are well versed with this name, but are you aware of its story? Moving towards your curiosity, team Higgle uncovers the journey of Falguni's dream business idea, Nykaa, which is a revolution in the online cosmetic industry. Read on to know more!
It was the moment when Falguni Nayar, an IIM Ahmedabad alumnus, a venture investor, and a merchant with Kotak Mahindra for nearly 20 years, decided to take the tag of a CEO. In April 2012, she decided to launch Nykaa, an e-commerce platform that curates beauty and wellness products.
Falguni's thought behind Nykaa was to bridge the gap in multi-brand retail in India through e-commerce at an efficient cost. Falguni's choice in the beauty segment happened both for her love with makeup and the potential of the Indian market for an online cosmetic brand like Nykaa.
Nykaa is one of the most fastest-growing startups with innumerable reasons to choose it for cosmetic shopping. A significant positive for Nykaa has always been its sole focus on beauty and fashion-based products. While other competitors were trying multiple product categories, Nykaa stuck to its originality.
Nykaa has changed the way women shop makeup and beauty products. The company has established a customer trust with its online services on time as it works on the inventory model and then processes the required orders. The platform provides products ranging from the most basic budget to the high luxury brands.
Aligning with all its achievements, Nykaa introduced its collaborations with non-Indian brands like Kiko Milano, Wet and Wild, and HUDA Beauty. With all this, the brand has become the hub of makeup enthusiasts in India. Nykaa has around 35,000 products from 100% authentic brands in 17 stores with a presence around different cities in India. The discount offers on Nykaa are also worthy enough to check out.
The Brand's Growth
Nykaa's products have created a substantial identity in the market. With its target over young ladies, the brand has attained a significant customer base. The company launched its range of products in the bath and body care in 2016.
The latest round funding in May 2020 has valued the brand over $1.2 billion making it the new entrant of the renowned unicorn club. The cosmetic industry is going to be worth $20 billion by 2025, and we are sure that Nykaa will make the most of this growth to be the best beauty and wellness giants in the industry!
As of now, Nykaa is altogether an epitome of belief, wellness, and concern for its consumers and for the industry.
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