India Mints New Billionaire Woman As Nykaa Founder Grooms Her Startup For An IPO
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Veteran investment banker-turned-entrepreneur Falguni Nayar, whose beauty retailer Nykaa is poised to launch its IPO, has become India’s newest billionaire. In June, a pre-IPO private placement valued Nykaa at $2.3 billion, putting Nayar in the three comma club with an estimated net worth of $1.1 billion.
According to the latest report, the Indian beauty and personal care market is expected to hit $28 billion in 2025, up from $16 billion in 2020. Likewise, the fashion market is expected to touch $124 billion—up from $54 billion in 2020.
It shows that not all startups need to be cash-burn machines to achieve scaling and market leadership. We think that’s a great message to investors who are lapping up startup IPOs at the moment and augurs well for the medium-term strength of this segment of the IPO market.
Nykaa offers a well-curated comprehensive selection of makeup, skincare, haircare, bath and body, fragrance, grooming appliances, personal care, and health and wellness categories. The products are directly sold from brands, and hence it always maintains the authenticity of the product.
Suprotik Sinha is the Content Writer with Synkrama Technologies. He writes about technologies and startups in the global enterprise space. An animal lover, Suprotik, is a postgraduate from Symbiosis Institute of Mass Communication (SIMC) Pune. He carries 6+ years of experience in Content Writing, and he also worked in mainstream broadcast media, where he worked as a Journalist with Ibn7 ( now known as News18 India) and Zee Media in Mumbai.