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At 50, Nykaa's Falguni Nayar Makes It To The List Of Billionaires
Writer: Shweta Singh
She is a Journalism graduate from Delhi University, She has previously worked as a voice over artist for various cuisines and clothing brands. She is specialised in content writing, hosting anchoring and voice over.
India, 11 Nov 2021 11:13 AM GMT | Updated 11 Nov 2021 11:54 AM GMT
Editor : Snehadri Sarkar |
While he is a massive sports fanatic, his interest also lies in mainstream news and nitpicking trending and less talked about everyday issues.
Creatives : Snehadri Sarkar
While he is a massive sports fanatic, his interest also lies in mainstream news and nitpicking trending and less talked about everyday issues.
Over the period of eight years, Nykaa has spread across the country with 5 million active users, 70 stores selling over 1,30,000 products of 500 beauty brands worldwide.
Nykaa founder Falguni Nayar has joined the billionaires club as the seventh woman and the wealthiest self-made billionaire. The e-commerce giant has made a blockbuster debut on Dalal Street. Nykaa is now worth about USD 6.5 billion as shares of the firm surged up to 89 per cent. The startup raised 53.5 billion rupees (USD 722million). The stock was up to 78 per cent at 10:36 a.m in Mumbai.
A Premium Increase
Nykaa shares were being listed at rupees 2,810 with around an 80 per cent premium, Money Control quoted a Bloomberg report as saying. The firm has hit the market cap of 1 trillion rupees in the first five minutes of trade. Within minutes of trading hours, Nykaa matched the industry giants such as Britannia, Godrej, and IndiGo.
Nayar had founded India's first unicorn startup in 2012 post her 50's. The firm grew popular by selling cosmetics and grooming products through its apps, website and physical stores. It has big names such as Katrina Kaif and Alia Bhatt as investors. She managed to successfully bridge the gap of inconsistencies of beauty product availability between India and other countries.
The Less Known Story
Over the period of eight years, Nykaa has spread across the country with 5 million active users, 70 stores selling over 1,30,000 products of 500 beauty brands worldwide. Falguni Nayar, Sanjay Nayar, Falguni Nayar family trust and Sanjay Nayar family trust are the key promoters holding 54.22 per cent shares.
The beauty brand is estimated to grow at approximately Rs. 2 lakh crore by 2025 from Rs 1.1 lakh crore in 2020. The Indian fashion brand is expected to grow roughly Rs 8.7 lakh crore by 2025 from Rs 3.8 lakh crore in 2020.
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