Falguni Sanjay Nayar is an Indian billionaire businesswoman, who is the founder and CEO of the beauty and lifestyle retail company Nykaa, formally known as FSN ECommerce Ventures which is an acronym of her own name. Nayar is one of two self-made female Indian billionaires.
Former investment banker Falguni Nayar quit her job to start Nykaa, a retailer of beauty products in 2012. Nykaa’s marquee investors include U.S. private equity giant TPG Growth as well as billionaires Harsh Mariwala and Harry Banga.
Nykaa, which means “one in the spotlight,” currently sells more than 4,500 brands online as well through more than 100 stores across India.
Nayar took Nykaa public in November 2021, becoming India’s richest self-made female entrepreneur in the process. Her twin daughter and son both work in the business and have board seats.
In 1993, Nayar joined Kotak Mahindra Group for 19 years. In 2005, she was appointed as a managing director and exited in 2012.
In April 2012, at the age of 50,[12] she founded Nykaa with $2 million of her own money.[13] Nykaa was worth $2.3 billion as of 2021 bringing Nayar’s fortune to an estimated $1.1 billion. Nayar is one of 2 self-made female Indian billionaires, the other being Kiran Mazumdar-Shaw.
Nykaa listed at a $13 billion valuation on 10 November 2021. Soon after Nykaa went public, Nayar became the wealthiest female Indian billionaire, with her net worth rising to the tune of $6.5 billion, and entered the list of top 20 Indians by net worth.