When investment banker-turned-entrepreneur Falguni Nayar was building Nykaa – an online retail startup for beauty products- in 2013, her biggest pillar of strength was her daughter, Adwaita.
Nykaa founder Falguni Nayar’s daughter Adwaita Nayar is the CEO of Nykaa Fashion and also the co-founder of Nykaa, which has now become a Rs 22,000 crore company.
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Adwaita Nayar’s education and career
Adwaita Nayar has completed her schooling from Mumbai’s Dhirubhai Bhai Ambani school and then pursued Bachelor of Arts (BA) in Applied Mathematics from Yale University. She later joined Harvard Business School and completed her MBA.
In 2012, Adwaita Nayar was working as a consultant at Bain and Company in the US when her mother Falguni Nayar, who had quit her high-paying job in Kotak to embark on her entrepreneurial journey, told her about her plan to launch an e-commerce beauty platform.
Then, Adwaita too quit her high-paying job in New York and came back to India to join as the co-founder of Nykaa.
Adwaita worked closely with her mother Falgunto build a business empire from scratch. While Falguni’s decades of investment banking prowess came in handy, Adwaita brought to the table the understanding of the millennial consumer and digital marketing skills.
In 2018, Adwaita launched Nykaa Fashion and did not adopt the time-tested low-price model of business to scale up her business.
Adwaita wrote on her LinkedIn account, “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.”
Adwaita Nayar’s Nykaa Fashion giving tough competition to Mukesh Ambani and Ratan Tata’s companies
Ever since Nykaa Fashion was launched, it has been successful in giving tough competition to Mukesh Ambani’s Reliance Jiomart, Ratan Tata’s group company Tata Cliq, Myntra, Amazon, and some other strong companies by expanding its reach in the market.
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Adwaita’s mother, Falguni Nayar, is the richest self-made woman in India. With a net worth of around Rs 22,000 crore (USD 2.7 billion), Falguni Nayar was ranked 44th in the Forbes 2022 list of India’s 100 wealthiest people, according to a Forbes report.
