On November 10, beauty and fashion e-commerce platform Nykaa made waves with its public listing, as the shares rose 96% on its first day of trading. The blockbuster opening is the story of a successful start-up and an inspirational woman. Nykaa’s CEO and MD Falguni Nayar is now the wealthiest self-made woman billionaire in India, a role model for many out there looking to break the glass ceiling across sectors.
In a world where wealth creation is still considered a man’s forte, here are five lessons to learn from her success story and Nykaa’s growth.
Self-belief: Nayar believed that nothing should stop a woman from daring to dream high and shining the spotlight on themselves, in her words. And the result was the first unicorn start-up headed by a woman called Nykaa.
Age is no bar: Nayar was 50 when she started Nykaa. The former investment banker and alumnus of IIM Ahmedabad, Nayar, has shown that with determination, you can succeed in any endeavor at any age—even as an entrepreneur without prior experience in the business.
Taking risk: Venturing into a space like e-commerce when it was still in its nascent stage in India, Nayar took the plunge and pursued her dream of being an entrepreneur. She has said in interviews that she has always been a risk-taker.
Sense the opportunity: Beginning at a time when beauty products were bought in stores, Nayar sensed the opportunity for a platform that could bring the best of the products on one platform. With considerable success, Nykaa scaled its operations to include fashion just a few years ago. Today, she also sees more opportunities with men becoming interested in grooming products.
Be intentional and focused: Despite being in the market since 2012, Nayar has been taking measured steps. Even after the listing, the company is keen on taking growth and profitability side by side. She says she spends considerable time looking at numbers on spreadsheets planning her business.
