- Friday, April 26, 2024
By: Shubham Ghosh
FALGUNI Nayar, who owns about half of beauty start-up Nykaa, has joined the ranks of self-made billionaire women this week after the start-up went public and doubled on its trading debut. Nayar is now asking more women to take control.
Nayar runs FSN E-Commerce Ventures Limited, which raised Rs 53.5 billion in its initial public offering (IPO) and witnessed a rise of 96 per cent on its first day of trading. It made Nayar India’s richest self-made woman billionaire, as per the Bloomberg Billionaires Index.
“Women need to allow the spotlight of their lives to be on themselves,” Nayar said in an interview after the trading debut, adding, “I hope more women like me dare to dream for themselves.”
Nayar founded her company, which runs Nykaa, nine years ago after working in investment banking and guiding other entrepreneurs through the IPO process, Bloomberg reported.
At a time when most women bought make-up and hair-care products at neighbourhood mom-and-pop stores, Nayar saw an opportunity in giving customers online access to high-end beauty items, backed by tutorials and testimonials.
“India is going to be a huge retail market,” Nayar said. “Indians will aspire for more, their spending power will grow and they’ll increasingly spend on lifestyle brands and services. Nykaa is in a good place,” she added.
