Nykaa Founder Falguni Nayar, Who Started at 50, is Now Among the Richest in the World

Beauty e-commerce platform Nykaa’s founder Falguni Nayar has become the wealthiest new entrant in the Hurun Global Rich List 2022. The richest new entrant in the Hurun Global Rich List from India, Falguni Nayar and her husband Sanjay Nayar, also feature in the list of top 10 new entrants in 2022 M3M Hurun Global Rich List, the research firm said in a press release.

For the first time, six Indian unicorn founders entered the 2022 M3M Hurun Global Rich List. Nayar’s entry in the list is backed by the success of the Nykaa IPO, which had received a bumper response at time of listing.

“Falguni Nayar’s Nykaa, a beauty and fashion e-commerce platform, was listed at a premium of over 82 per cent, and the market cap crossed Rs 1 lakh crore post listing,” said Hurun India in its research note.

On November 10, when Nykaa got listed on the BSE and NSE, Nayar’s net worth shot up to new heights. She had become India’s richest self made woman billionaire. With this achievement, the Nykaa founder and CEO had joined only six other women billionaires in India Bloomberg Billionaires Index, adding another feather to her crown since 2012.

“I started Nykaa at the age of 50 with no experience. I hope the Nykaa journey can inspire each of you to be the Nykaa of your lives,” she said ahead of her company’s listing at the National Stock Exchange (NSE). Falguni Nayar, who owns almost half of Nykaa’s shares is now worth $6.5 billion as shares of her company surged to 89 per cent as they started trading on the day.

In 2012, Nayar, who was just months away from turning 50, came up with the idea of Nykaa — which was aimed at providing beauty products to women and men in the country online. Back then, Indians mostly relied on smaller, neighbourhood stores to buy beauty products. With the launch of Nykaa, cosmetics and skincare products were just a phone tap away and the range of options increased drastically with the introduction of international brands and those which were never heard of.

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