Nykaa’s founder Falguni Nayar, who owns half of the company‘s stock worth $6.5 billion, is now Indian’s wealthiest self-made female billionaire, according to Bloomberg Billionaires Index.
Nykaa’s parent company, FSN E-Commerce Ventures, is India’s first woman-led unicorn to hit the stock exchange, shares of which almost doubled when it hit the stock market on Tuesday.
Formerly leading a top Indian investment bank, Nayar founded Nykaa in 2012 just before turning 50 when women were hesitant of buying cosmetics and beauty products online. The start-up has since then grown to become India’s leading beauty retailer today with more than 70 outlets.
The word ‘Nykaa’ is derived from the Sanskrit word which translates to ‘Heroine’. The brand sells cosmetics, beauty and wellness products, apparel, bridal essentials among others with an affordable to premium range of products.
Falguni Nayar owns her company stake through two family trusts and seven other promoter entities. She has a son and a daughter, both educated from prestigious Ivy League universities, run different Nykaa units, and are among the brand’s promoters.
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