Falguni Nayar (born February 19, 1963) is an Indian entrepreneur and the founder and CEO of Nykaa, a cosmetics and lifestyle retailer. Nayar is one of just two self-made female billionaires in India. Following recent listings, Nayar is currently the wealthiest female Indian billionaire, with an estimated net worth of $6.5 billion.
In Mumbai, Maharashtra, Nayar grew up in a Gujarati family. She holds a bachelor’s degree in commerce and economics from Sydenham College, as well as a master’s degree in management from the Indian Institute of Management in Ahmedabad.
Falguni was born and raised in Mumbai, despite her Gujarati ancestors. Her father was a businessman who, with the help of her mother, maintained a modest bearings company. Sanjay Nayar, whom she met at business school, became her husband in 1987.
Falguni Nayar, the founder of Nykaa, India’s largest online fashion and leisure portal, lived the perfect life. She abruptly announced her retirement from Kotak Mahindra, where she had worked for 20 years as a startup investor and merchant. She oriented herself towards Nykaa, a portal that made history with its launch, by capitalising on the spectrum of cosmetics and skin care products available online. Making way for an entrepreneur who taught the world that age is only a number while running a profitable online business and 35 physical locations.
Nayar worked as a consultant with A F Ferguson & Co., a management consulting firm, in 1985.
Nayar joined the Kotak Mahindra Group’s mergers and acquisitions division in 1993 and served in various capacities for the next 19 years.
She was appointed as a managing director in the company in 2005 and left in 2012 with the same position.
Nykaa was formed by her in April 2012 at the age of 50. As of 2021, Nykaa was valued at $2.3 billion, raising Nayar’s fortune to $1.1 billion. Nayar is one of just two Indian billionaires who made their fortune on their own.