If you want a true example of how entrepreneurship can be achieved even at the age of 50 Read this interesting story of Falguni Nayar !!!
Falguni Sanjay Nayar, one of two self-made female billionaires in India, was born on February 19, 1963. She is a wealthy entrepreneur from India and the founder and CEO of Nykaa, a beauty and lifestyle retailer formerly known as FSN E-Commerce Ventures
Early life and Education
In Mumbai, Maharashtra, Nayar was born and educated in a Gujarati household. She graduated with a B.Com from Sydenham College of Commerce and Economics and received a postgraduate degree from the Indian Institute of Management Ahmedabad. Her father was a businessman who ran a small bearings company with the help of her mother .
Nayar began a 19-year tenure with the Kotak Mahindra Group in 1993. She was appointed managing director in 2005 and left the position IN 2012She started Nykaa in April 2012, at the age of 50, with $2 million of her own funds. By 2021, Nykaa’s value had increased to $2.3 billion, boosting Nayar’s net worth to an estimated $1.1 billion. One of two self-made female billionaires in India, along with Kiran Mazumdar-Shaw, is Nayar. On November 10, 2021, Nykaa went public with a valuation of $13 billion. Nayar’s net worth increased to $6.5 billion shortly after Nykaa went public, making her the richest woman in India and propelling her into the top 20 Indians by net worth.
In 1987, she wed Sanjay Nayar, whom she had met while attending business school. Her husband is the CEO of Kohlberg Kravis Roberts India. She has two kids, Adwaita and anchit
Unknown facts :
As she has said in many interviews, she was happy in Kotak Mahindra and it was very difficult for her to quit the job and start something on her own as “everything was going right” in Kotak.
However, Falguni had a “self-imposed deadline” that she has to give entrepreneurship a try by the time she is 50. And thus Nykaa was born in 2012 as Falguni exited from Kotak. At that time, her children (twin Anchit and Adwaita) left to study in the US and she had the time she needed to focus on her entrepreneurship project.
In 2012, Nykaa started with 60 daily orders and never thought of cutting prices. “We’d rather sell the right colour of lipstick at full price, than the wrong shade at half off which would make the buyer unhappy within minutes of wearing,” Nayar told Bloomberg
Nykaa is a fully developed family business, with daughter Adwaita, who has an MBA from Harvard Firm School, leading the fashion vertical, and Falguni’s son Anchit, a Columbia University graduate, operating the beauty e-commerce business.
According to Forbes India Rich List, Falguni Nayar is now wealthier than the Muthoot family of Muthoot Finance, Chairman and Founder of Marico Harsh Mariwala, and Abhay Vakil of Asian Paints.
Falguni has admitted in previous interviews that she doesn’t believe in critics and that you should never give up.