Falguni Nayar

How an investment banker with zero retail experience launched India’s biggest beauty company.

In 2012, Falguni Nayar walked away from an 18-year career in investment banking to start something completely new.

With $2M of her own savings, she launched Nykaa, an online beauty retailer, from a small office with just three employees.

Her vision? To give Indian consumers access to premium beauty products… just like in the West.

The gamble paid off.

By 2021, Nykaa went public at a $13B valuation, making Nayar India’s richest self-made woman at the time with a net worth of $6.5B.

Today, Nykaa sells thousands of brands online and in nearly 200 physical stores, making it the go-to beauty and fashion destination in India.

But Nayar didn’t build Nykaa overnight.

Before becoming an entrepreneur, she spent years leading mergers & acquisitions at Kotak Mahindra.

Setting up institutional equities offices in London and New York.

And ultimately serving as Managing Director of Kotak Mahindra Capital.

Despite her financial success, she believed she had more to give.

“I wanted to build something of my own,” she said. “I wanted to create a legacy.”

Nayar sits on the boards of Kotak Securities, ACC Limited, and Dabur India Limited. And has previously served on the boards of Tata Motors and Aviva Life Insurance.

She’s also been widely recognized for her achievements:
- EY Entrepreneur of the Year (2019, 2021)
- Businesswoman of the Year (Economic Times, 2019)
- Forbes Asia’s Power Businesswomen (2019)
- Business Person of the Year (Vogue India, 2019)

At 62, she’s still at the helm of India’s leading beauty and lifestyle retailer, proving that entrepreneurship has no age limit.