Nykaa founder Falguni Nayar’ daughter Adwaita Nayar is the CEO of Nykaa Fashion. Adwaita Nayar is also the co-founder of Nykaa, which has now become a Rs 22,000 crore company. In 2012, Adwaita Nayar was working as a consultant at Bain and Company in the US when Falguni Nayar decided to launch Nykaa.
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Falguni Nayar had quit her high-paying job in Kotak to embark on her entrepreneurial journey. Nykaa is currently India’s leading online marketplace for beauty products. Adwaita Nayar came to India after quitting her high-paying job in New York and joined Nykaa as a co-founder. Adwaita Nayar has completed her schooling from Mumbai’s Dhirubhai Bhai Ambani school and she did her Bachelor of Arts (BA) in Applied Mathematics from Yale University. She later joined Harvard Business School and completed her MBA.
Adwaita has worked closely with her mother Falguni Nayar to build a business empire from scratch. In 2018, she launched Nykaa Fashion and did not adopt the time-tested low-price model of business to scale up her business.
“The pursuit of feeling the thrill and ownership of a start-up led me home to join my mother in our entrepreneurial venture, Nykaa. As co-founder, I had an incredible opportunity to witness the inception of the company and shape it into a brand that we all love and trust today. I spent our initial years dealing with the complexities of fundraising, marketing, customer service, and physical retail increasing the store footprint from 5 to 35. I was responsible for the operations, technology, and marketing of the eCommerce business – laying the foundations of tech and processes that are used to date,” she wrote on her LinkedIn account.
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Nykaa Fashion is competing with Mukesh Ambani’s Reliance Jiomart, Ratan Tata’s group company Tata Cliq, Myntra, Amazon and some other strong companies but despite this Nykaa Fashion has managed to expand its reach in the market. Adwaita’s mother, Falguni Nayar, is the richest self-made woman in India. Falguni Nayar was ranked 44th in the Forbes 2022 list of India’s 100 wealthiest people. She has a net worth of around Rs 22,000 crore (USD 2.7 billion), according to a Forbes report.
