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Published
Jan 4, 2022
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Nykaa founder Falguni Nayar becomes second richest woman in India

Published
Jan 4, 2022

Entrepreneur Falguni Nayar is now India’s second richest woman with a net worth of $6.5 billion (Rs 43,242.9 crore) after she raised money for her beauty retail business Nykaa through an initial public offering. 

Falguni Nayar of Nykaa speaking at the 2019 BW Disrupt awards - Nykaa- Facebook


Indo-Asian News Service’s 'IANS-CVoter Issues That Dominated India 2021' named Nayar as India’s second richest woman, following Savitri Jindal of the Jindal business family. Nayar’s net worth increased dramatically following the Nykaa IPO which launched on November 10 to a mammoth response. The business’ issue was oversubscribed around 82 times and the IPO made waves as the unicorn achieved a valuation of close to $14 billion. 
 
Following the IPO, Nykaa announced that it plans to focus on profitability and continued omni-channel expansion moving forward. Nykaa is expanding its brick-and-mortar footprint across the country and partnering to bring new international beauty and fashion brands to India. Nayar’s startup success story reflects how the e-commerce boom in India has opened up the retail playing field to new entrants. 

Falguni Nayar launched Nykaa in 2012 as a multi-brand omni-channel beauty-focused retail business after a career in the banking sector. The business now has a mixture of ‘Luxe’ and ‘On Trend’ stores as well as latest retail format kiosks across India along with its online store. Nykaa also has a fashion arm ‘Nykaa Fashion’ which has a dedicated online store and brick-and-mortar store in New Delhi which opened in January, 2021. 

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