The founder of Nykaa and richest woman in India, Falguni Nayar, is ranked first on the Hurun Global Rich List 2022. She ranks 33rd among the 100 wealthiest people on the list with a net worth of Rs 38,700 crore.
Icing on the cake – The inclusion of Falguni Nayar and other similar unicorn entrepreneurs on the 2022 M3M Hurun Global Rich List was a first for India.
Without any preceding years of relevant professional experience, she had launched Nykaa at the age of 50. She created Nykaa in 2012 with the goal of supplying cosmetics to people of all genders. It offers its users foreign brands from other nations in addition to Indian beauty items.
Moreover, it is presently recognised as an up-and-coming beauty brand retailer with a strong commitment to expanding the beauty retail industry in India.Owning nearly half of Nykaa’s shares, which are worth $6.5 billion, she has succeeded in boosting the company’s success by almost 89%, surpassing Biocon founder Kiran Mazumdar- Shaw and adding likes to the only woman from Gautam Adani, Mukesh Ambai, and Cyrus Poonawalla. What a Success! Super Achievement !!!
Along with well-known female stock investors like Smita V. Crishna of Godrej and Radha Vembu of Zoho Corporation, this 59-year-old self-made billionaire also has Rekha Jhunjunwala, wife of Rakesh Jhunjhunwala, who has a net worth of Rs. 37,200 crore, as a follower. Smiley !!!
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With this success rate, she not only saw a 300% rise in wealth, moving her up to fifth place, but she also saw a 345% increase in wealth, moving her up to second place behind Ravi Modi of Vedant Fashion.
The so-called “biotech queen” who is also a wife and the mother of two adorable children, has succeeded in making Nykaa one of the many great debuts on the Indian stock exchange, giving respective investors a return of about 80% in a single day. This wasn’t the case previously though; during the company’s pre-IPO phase, she owned more than 50% of the stock; however, later, when the company’s market valuation soared to over Rs 62,620 in the year 2022, she grew to be much larger than that. Whopping!!!
Nykaa has now succeeded in branching out onto a unique fashion platform where it offers handpicked fashion goods in addition to being a retailer of makeup with more than 1500 brands and its own private label that is available both online and offline. The revenue now exceeds Rs 3200 crores in FY22, and it is anticipated to reach Rs 4000 crores in FY23. OMG!!!
After earning her degree from IIM Ahmedabad, Falguni began her work. She sought advice from A. F. Ferguson, and later served as the managing director of Kotak Mahindra Investment Bank for 18 years. She also served as director of the bank’s institutional equity section, Kotak Securities.
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Falguni Nayar has received the most honors, according to the list. She has received the following honors in addition to serving on the boards of ACC, Dabur, Endurance Group, and Tata Technologies:
- The 2017 Economic Times Startup Awards “Woman Ahead” honor
- The Economic Times Award for Corporate Excellence’s 2019 Businesswoman of the Year
- Vogue India named her among the other selected few as Asia’s Power Business Woman 2019 Businessperson of the Year.
- Ernst and Young’s Entrepreneur of the Year for 2019
Since the epidemic, there has been a significant movement from offline to online mode, and Nykaa has benefited greatly from it. Due to its size, it has provided many aspiring business owners with a platform to advertise and sell their goods, thereby assisting them to do away with the need for middlemen. However, Nykaa was one of several internet businesses that exhibited a profit rise of between 20% to 70% when compared to other online businesses.
But in addition to Nykaa, several start-ups have also made it onto the list of “Under 100 Richest” including Zepto, founded by Kaivalya Vohra and Aadit Palicha, and PhysicsWallah, founded by Alakh Pandey and Prateek Maheshwari. Hurun from IIFL Wealth said that all of these original startups combined a total of 100 entrepreneurs on India’s Rich List 2022 had a combined wealth of Rs. 5.06 lakh crore, and between 40 and 60 of them worked for 37 unicorn start-ups.
So here it is all to the Nykaa of the Indian startup ecosystem!
We believe that it will inspire and ignite the passion to build many more startups and businesses in the world.
