Nykaa dominates beauty products across the country. The cosmetics sold by it have been greatly liked. The fortune of Falguni Nair, the founder of this famous retail chain, has increased to $6.5 billion due to a strong rise in the shares after the company went public on November 10.
There was a surge in IPO as soon as it was listed.
Shares of FSN E-Commerce Ventures Ltd. – operator of cosmetic retail chain Nykaa, surged as much as 89% when it went public on Nov. 10. FSN E-Commerce Ventures is India’s first women-led startup (a $1 billion-plus startup) to go public. The company raised Rs 53.5 billion ($722 million) in this IPO.
Founder Falguni Nair owns almost half of Nykaa, which is now worth about $6.5 billion. This makes her India’s richest self-made female billionaire, according to the Bloomberg Billionaires Index. This feat has created a history. It is humbling to see a woman achieve such a feat.
Achievement of defeating Majumdar Shaw
Biocon Executive Chairperson Kiran Mazumdar Shaw has congratulated Nykaa founder Falguni Nair on her achievement. Let us tell you that Nair has achieved this feat only by defeating Shaw. Shaw has tweeted a congratulatory tweet. Shaw, executive chairperson of Biocon, wrote, “Nyka founder Falguni Nair has become the country’s richest self-made female billionaire – a great start, congratulations Falguni Nair, you have made us women entrepreneurs proud”.
Nykaa started in 2012
Nair, the former head of India’s top investment bank, founded Nykaa in 2012, just months before she turned 50. At that time, most of the Indian women showed interest in buying makeup and care products. Ms Nair has grown her startup into India’s leading beauty retailer with over 2,500 cosmetic brands. Nair has boosted online sales due to the launch of over 70 physical stores for Bollywood celebrities and actors to experience the products. His effort was to make his products reach all the people of the country.
Items that Nykaa sells include: exfoliants, skin care cosmetics, hundreds of lipsticks, and nail polishes that match the skin color of local people. The retail chain’s revenue rose 35% to $330 million in the fiscal year ending in March, according to the IPO filing. Nykaa is one of the few start-ups in the consumer internet market to have a profitable IPO.
For the first time, a woman’s unicorn is listed in the Indian market.
Nykaa’s parent company FSN E-Commerce Ventures is the first unicorn in the country started by a woman to be listed in the market. Unicorn means a startup whose valuation touches the level of $ 100 crore (Rs 74.37 thousand crore). Nykaa has raised Rs 5352 crore through IPO. Nair started Nykaa when he was just a few months away from turning 50.
Nykaa changed makeup trend
The birth of Nykaa has changed the way Indians view beauty, from just wearing lipstick and eyeliner to paying more attention to sophisticated care and beauty. According to Bloomberg, the beauty market in India is still quite young, yet users in this country of 1.3 billion people have just started 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 organisations. The daughter and son graduated from prestigious Ivy League universities, with Nair Nayaka running business units.