Falguni Nayar, whose net worth is $2.7 billion, is at 88th spot on the Forbes Rich List 2023.
India’s top self-made entrepreneurs were recently listed by Hurun India and IDFC First Banking. Founder of the retail business D-Mart (Avenue Supermarts Limited), Radhakishan Damani, is ranked 1 on the list. Falguni Nayar, founder and CEO of e-commerce brand Nykaa, has been declared India’s top self-made woman entrepreneur by Hurun India.
Falguni studied at the Indian Institute of Management (IIM) in Ahmedabad. She was employed by Kotak Mahindra Bank as a Managing Director for Capital Investments. She was unable to work for very long, though, as her ambition to accomplish something significant and unique drove her to launch a business.
Falguni Nayar founded Nykaa.com under the banner of FSN E-Commerce Ventures in 2012. Due to her tenacity, enthusiasm and diligence over the past eleven years, Falguni has established a unique position for herself. Falguni Nair, whose net worth is $2.7 billion, comes in at number 88 on the Forbes Rich List 2023.
In a market dominated by well-known international and Indian companies, Falguni established the groundwork for her company. However, she had to fight to make a name for herself in this very competitive industry by doing something different. After eight years, in March 2020, her efforts paid off, and Nykaa was declared a unicorn. A privately held startup company valued at more than $1 billion is referred to as a unicorn in the business world. Venture entrepreneur Aileen Lee initially used the word in a 2013 publication, using the legendary beast to symbolise the statistical rarity of such successful businesses.
Read More: Spotify announces layoffs, CEO says 17 per cent employees to go immediately
The market capitalisation of Falguni Nayar’s company FSN E-Commerce Ventures has now reached Rs 56,100 crore. The company was listed on the stock market in 2021. The company’s IPO got good response from investors. However, some time after the listing, the company’s shares started declining. The current share price, till the filing of this report, is Rs 176.40.
The company’s revenue in the September quarter of the current financial year reached Rs 1,507 crore. In the same quarter last year, it was Rs 1,230.82 crore. In the second quarter of the financial year 2023-24, the company made a profit of Rs 7.8 crore.
