Nykaa was founded by Falguni Nayar in 2012.
New Delhi: Nykaa, the country's first woman-led unicorn, is a big name in beauty and wellness. Former Investment banker Falguni Nayar founded Nykaa in 2012. 'Nykaa' is Sanskrit for actress. Falguni Nayar was former Managing Director of Kotak Mahindra Capital Company and, according to Nykaa's website, is a member on several boards, including the Aviva Insurance Board, Dabur India and as an Independent Member on the Tata Motors Board.
Ms Nayar, is married to KKR India Head Sanjay Nayar, who specializes in IPOs. She owns about half of Nykaa, with her husband and their twin children. Ms Nayar will continue to own a majority stake along with her family after the IPO.
Anchit, her son who graduated from Columbia University, runs the beauty e-commerce business, while daughter Adwaita, with an MBA from Harvard Business School, operates the fashion vertical.
"Our message to women has been that the spotlight of her life should be on herself. You are important in your story and should feel no guilt at being center stage,” Ms Nayar said in a recent interview with news agency Bloomberg." Nykaa has a strong resonance among millennials and Gen-Z," she added.
The company has resisted cutting prices to lure buyers, in contrast to other e-commerce startups. “We didn't want to be a discount store,” Ms Nayar said. “We'd rather sell the right color of lipstick at full price, than the wrong shade at half off which would make the buyer unhappy within minutes of wearing.”
Nykaa has fixed the IPO price band at Rs 1,085-1,125 per share. It plans to use the IPO proceeds to set up new retail stores and warehouses, and for marketing and other promotional activities, as per the draft papers. Nykaa also aims to strengthen its brands such as Nykaa Cosmetics, Nykaa Naturals and Kay Beauty, and to establish and promote fresh brands.
Nykaa currently offers 4,000 beauty, personal care, fashion brands through its website, app and 80-odd brick-and-mortar stores.