When someone mentions a startup founder, the first image that comes to mind is that of a young entrepreneur, since the median age of startup founders in India is 31. But Falguni Nayar launched e-commerce platform Nykaa at the age of 50 and has built an empire of more than a 100 stores, which sell beauty and wellness products along with apparel. The self-made billionaire has now been named the richest Indian woman on the Hurun rich list, and has left behind Biocon founder Kiran Mazumdar Shaw.
Growing leaps and bounds
Launched in 2012, Nykaa made a bumper debut on the stock market last year with an IPO worth more than Rs 5,000 crore, which was subscribed 81 times. Earlier this year, Nayar’s net worth was found to be four times that of Paytm founder Vijay Shekhar Sharma, as she entered the global rich list. Her family’s wealth went up by Rs 30,000 crore this year, taking her wealth to Rs 38,700 crore with a 345 per cent increase. She even joined Gautam Adani, Mukesh Ambani and Cyrus Poonawalla among India’s top 10 wealth gainers this year, as the only woman on that list.
Never too late to aim high
After working at Kotak Mahindra Group for almost 20 years, Nayar left her well-paying job and comfortable life to launch her own venture. Nykaa opened doors for people to order fashion and cosmetics with a few taps from home, with 2,000 brands that offer more than two lakh products. Nayar also launched a range of in-house cosmetics and wellness products by Nykaa, which are offered as cruelty-free alternatives.
With only 15 per cent unicorn startup founders being women in India, Nayar’s meteoric rise is expected to inspire positive change.
