From Startup to Stalwart’ with the powerhouse mother-daughter duo Falguni Nayar and Adwaita Nayar, Co-Founders of Nykaa

FLO brought together powerhouse mother-daughter duo Falguni Nayar and Adwaita Nayar, Founders of Nykaa, for an interactive session on August 11, 2021. The conversation was moderated by Past YFLO Delhi Chair, Karishma Manga Bedi.
Founded in 2012, Nykaa has revolutionized the way that India shops for beauty. The objective of the session was to discover the Nykaa story through the lens of the founders, to understand how it came to be the success that it is today.

FLO President, Ujjwala Singhania said, “As one of the oldest and largest business chambers working towards women empowerment, we understand the need to enable and create more entrepreneurs for the economic development of the country.”
“Mothers have a wonderfully precious and truly powerful role to play in the future self-images of the daughters. There’s no inspiration better than a mother. We want more and more women to be inspired by such success stories. This will create a multiplier effect in the society,” she added.

Talking about the journey of creating, building, and scaling Nykaa, Falguni Nayar -CEO of Nykaa said that the seed of entrepreneurship in her life was implanted during her career as an investment banker. “As I was looking for ideas to put in my energy, I thought beauty as a business was critical but was an underrated segment in India. It was basically a combination of my belief in beauty, working on a multibranded beauty retail and supporting though an online business model.”, she added.

She highlighted about the Magento platform that was the initial base for the e-commerce giant and spoke about the how they faced various problems in terms of using technology to build the business. Today, Nykaa.com is a market leader and a preferred destination for online beauty and wellness products in India.

Adwaita Nayar, CEO of Nykaa Fashion said, “Challenges and barriers are inevitable while setting up a business. One must have a long-term vision and a thick skin. It is also crucial to build on your core values. Authenticity, emphasis on content, the product itself and the technology experience is what we believe in.”
“The way women shop for beauty and fashion is very different. We watch our consumers very closely and then we try to create the Apps, products, and user experience accordingly. That’s what makes us stand out, “she added.