In the world of patriarchal thinking where people have this assumption that women are meant for
household works, women are proving every day that they can’t only balance between home and office works, but also shine into the entrepreneurial world. One of the best examples amongst us is ‘Falguni Nayar’, the Founder and CEO of ‘Nykaa’ which is the Online platform for beauty products. Now a well-known and well-recognized entrepreneur, Falguni Nayar is an IIM alumnus and has spent 18 years of her career in Kotak Mahindra before starting her venture in 2012. The icing on the cake was the entry of her daughter Adwaita Nayar in 2013 who has graduated from Harvard business school. From asking a relative of yours to bring an eyeshadow palette while coming back from the US, to being able to order it in just one click today, Nykaa has made it possible that it caters to our needs when it comes to top-notch international beauty as well as personal care
products. Derived from the Sanskrit word ‘Nayaka’, meaning one in the spotlight, and for that matter - yes, it is one of the leading fashion and lifestyle portals. The best part about Nykaa is that the international brands which were a dream for every Indian have a direct tie-up with it. That's the reason celebrities like Katrina Kaif, who launched her beauty line ‘Kay Beauty’ on this platform last year, and Alia Bhatt who invested an undisclosed amount in Nykaa, who said “There are three reasons why I wanted to invest in Nykaa because it has Indian roots, it is founded by a woman and Nykaa is proof that the best in India can take on the best in the world.” Recently Nykaa got the prestigious status of a unicorn. In March 2020, the start-up managed to raise 13.6 million USD in its series A round (name typically given to a company’s first significant round of venture capitalism financing) from its existing investor Steadview Capital. After this round of funding, the value of the company became 1.2 billion USD, hence allowing it to enter the Unicorn club. A unicorn club is a club of all the start-up companies with their valuations crossing a billion USD, it’s equivalent to the popular girl’s group at school and everyone wants to be in it. It already has plenty of companies under it like Bytedance, SpaceX, Stripe, etc. and some of the Indian startups being Cred, Pharmeasy and Urban Company. The company is an eight-year-old e-commerce platform that has risen rapidly over the years and has over 5 million monthly active users, 70 stores across India and fulfilling over 1.5 million dollars a month. And the numbers keep on growing.
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