Nykaa dominates in beauty products across the country. The cosmetics sold by it have been well received. The fortune of Falguni Nair, the founder of this renowned retail chain, has risen to $6.5 billion due to a strong rise in shares when the company went public on November 10.
There was a jump as soon as it was listed in the IPO
Shares of FSN E-commerce Ventures Ltd – operator of cosmetic retail chain Nykaa, soared as much as 89% when it went public on November 10. FSN E-commerce Ventures is India’s first female-led startup to go public (startups worth over $1 billion). The company raised 53.5 billion rupees ($722 million) in this IPO.
Founder Falguni Nair owns almost half of Nykaa, which is now worth around $6.5 billion. This makes her the richest self-made female billionaire in India, according to the Bloomberg Billionaires Index. This feat has created a history. It is heartening to see a woman achieve such a feat.
Achievement of beating Majumdar Shaw
On this achievement of Falguni Nair, Founder of Nykaa, Biocon Executive Chairperson Kiran Mazumdar Shaw has congratulated her. Let us tell you that Nair has achieved this feat only after beating Shaw. Shaw has tweeted congratulatory. Biocon’s executive chairperson Shaw wrote, “Nayaka founder Falguni Nair has become the country’s richest self-made female billionaire – Great start, Badhaai Ho Falguni Nair, you have brought laurels to us women entrepreneurs”.
Nykaa launched in 2012
Nair, the former head of India’s top investment bank, founded Nykaa in 2012, a few months before she turned 50. At that time, most Indian women showed interest in buying makeup and care products. Miss Nair has grown her startup into India’s leading beauty retailer with over 2,500 cosmetic brands. Nair has given a boost to online sales due to the introduction of over 70 physical stores for Bollywood celebrities and actors to experience and products. His effort was that his products reach all the people of the country.
Items that Nykaa sells include exfoliants, skincare cosmetics, hundreds of lipsticks, and nail polishes that match the skin tone of the locals. The retail chain’s revenue rose 35% to $330 million in the fiscal year ending March, according to an IPO filing. Nykaa is one of the few start-ups in the consumer internet market that is profitable in terms of IPOs.
For the first time, a female unicorn listed in the Indian market
Nykaa’s parent company FSN E-Commerce Ventures is the first unicorn in the country to be listed in the market, started by a woman. Unicorn means a startup whose valuation touches the level of $ 100 million (Rs 74.37 thousand crores). Nykaa has raised Rs 5352 crore through IPO. Nair started Nayaka when he was just a few months away from turning 50.
Nykaa Changes Makeup Trend
The birth of Nykaa has changed the way Indians view beauty, from wearing only lipstick and eyeliner to more sophisticated care and focus on beauty. According to Bloomberg, the beauty market in India is still young, with users in this country of 1.3 billion people opening their wallets to buy makeup and beauty care products.
Nair holds shares in the cosmetics retail chain through two family trusts and seven other organizations. The daughter and son graduated from the prestigious Ivy League University, with Nair Nayaka running business units.
