Online beauty platform Nykaa has been awarded ‘The Disruptor of the Year’ at the India Business Leader Awards (IBLA 2022) by CNCB-TV18. The award has been given to Nykaa for breaking old myths and beliefs and successfully making a mark in the fast growing startup industry of the country through innovations.
Nayaka was started in 2012 by former banker Falguni Nayar. It started purely as an e-commerce platform selling beauty products only. Nykaa has carved a niche for itself in this segment by setting new benchmarks in beauty and personal care.
Nykaa’s Initial Public Offer (IPO) came in October last year, which was quite successful. The Nykaa brand is a well-known name in Indian households today. The company’s founder Falguni Nair has become the richest self-made woman in the country after the IPO listing.
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Falguni Nair started Nykaa in 2012 after working as an investment banker for 18 years and was just a few months under 50 at that time. The objective of Nykaa was to make online beauty products available to women and men in the country. At that time, most Indians depended on small neighborhood shops to buy beauty products. Apart from Indian brands, Nykaa has also brought many international brands on its platform and has continuously grown in its category. Along with this, it also launched its own brands. Nykaa is today India’s largest beauty and personal care online marketplace.
“As an investment banker, I have seen companies rise and fall,” Nair said in an interview to Forbes in November. Only those companies that survive in the market are the ones that do good for shareholders, customers and the ecosystem in the long run. create lasting value.”
Listed in the world’s 100 most influential companies
Recently, Nykaa was placed in the list of 100 most influential companies in the world released by Time magazine. Time said, “About 10 million people buy its products. In November, it raised $700 million through an IPO at a valuation of $13 billion and with this CEO Falguni Nair became India’s richest self-made businesswoman.” Went.”
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