The remarkable success story of Falguni Nayar serves as an inspiration for aspiring entrepreneurs. Going public with Nykaa, a prominent beauty and lifestyle retail company she founded in 2012, Falguni Nayar became India’s wealthiest self-made female entrepreneur after her company’s IPO in November 2021.
Currently, she holds the #88 spot on Forbes’ India’s 100 Richest list, boasting a staggering net worth of USD 2.65 billion (approximately Rs 22,000 crore). Assisting Falguni Nayar in steering Nykaa to greater heights are her talented twins.
Falguni Nayar and her husband, Sanjay Nayar, the CEO of Kohlberg Kravis Roberts, are proud parents of Adwaita Nayar and Anchit Nayar. Adwaita serves as the CEO of Nykaa Fashion, while Anchit is the CEO of Beauty E-Commerce at Nykaa. Both siblings also hold board positions at Nykaa and bring with them Ivy League education, with Adwaita being an alumna of Yale and Harvard Business School, and Anchit having graduated from Columbia University.
About Adwaita Nayar
Adwaita Nayar, after a brief tenure at Bain & Company as an Associate Consultant, co-founded Nykaa alongside her mother, Falguni Nayar, actively contributing to its expansion. In 2018, Adwaita spearheaded the launch of Nykaa Fashion, a new vertical within the Nykaa brand.
About Anchit Nayar
On the other hand, Anchit Nayar spent nearly seven years at Morgan Stanley, reaching the position of Vice President of media and Telecom Banking. In 2018, Anchit joined forces with his billionaire mother and sister, taking charge of Nykaa.com since 2021. According to DNA India, Nykaa’s valuation reached USD 13 billion (approximately Rs 1.08 lakh crore) as of November 2022.
Nykaa growth
Despite Nykaa facing formidable competition in the beauty market from Isha Ambani’s Reliance Retail-backed Tira and Tata CLiQ – Palette, Anchit Nayar remains optimistic. Addressing the surge in competitors, he remarked, “Competition has been around since we started. At that time, we would be asked how we would ‘Amazon-proof’ our business. It’s not like there were no competitors in 2012. We understand this consumer better than anyone else… Having said that, newer competitors will expand the market and accelerate consumption of the category,” as reported by the Economic Times.
