At 50, an investment banker drops a successful career to pursue her promise.
The crazy part?
Today she is India's wealthiest self-made, female billionaire.
The stunning story of Falguni Nayar and her company's $13 Bn valuation 👇👇👇
The crazy part?
Today she is India's wealthiest self-made, female billionaire.
The stunning story of Falguni Nayar and her company's $13 Bn valuation 👇👇👇
Falguni Nayar has business in her blood.
When she was born in 1963, her parents ran a small bearings company.
The house was filled with conversation about the stock market and investing.
Plus, she is Gujarati - and we Gujaratis are known for our business acumen.
When she was born in 1963, her parents ran a small bearings company.
The house was filled with conversation about the stock market and investing.
Plus, she is Gujarati - and we Gujaratis are known for our business acumen.
Building off that, Falguni pursued an education in business and commerce.
With some managerial experience after college, she even landed a job at Kotak Mahindra Capital Co.
Rising through the ranks, she became the Managing Director in 2012.
And that's when it all changed...
With some managerial experience after college, she even landed a job at Kotak Mahindra Capital Co.
Rising through the ranks, she became the Managing Director in 2012.
And that's when it all changed...
Falguni threw all that success away, for a promise she made to herself a while ago.
Falguni promised herself that before the age of 50, she had to take attempt something entrepreneurial.
At 49 years old, she finally took the plunge.
Falguni promised herself that before the age of 50, she had to take attempt something entrepreneurial.
At 49 years old, she finally took the plunge.
As if the plunge was not hard enough, there were a lot of critics too.
In fact, her own son agreed that her decision was as bad as a midlife crisis.
And it would be one, if not for Falguni's unique and timely insights.
In fact, her own son agreed that her decision was as bad as a midlife crisis.
And it would be one, if not for Falguni's unique and timely insights.
For instance, Falguni was quick to notice the lucrative nature of the beauty product market.
What gaps/opportunities did she see?
1/ A fragmented market with no leader
2/ Restricted product variety and distribution
3/ Rising aspirations in Tier 2 & 3 cities
What gaps/opportunities did she see?
1/ A fragmented market with no leader
2/ Restricted product variety and distribution
3/ Rising aspirations in Tier 2 & 3 cities
But almost everyone noticed these gaps.
What was it that differentiated Falguni?
@wes_kao defines your spiky point of view (SPOV) as a claim that is:
• disagreeable with
• you can advocate for
• potentially your competitive advantage.
What was it that differentiated Falguni?
@wes_kao defines your spiky point of view (SPOV) as a claim that is:
• disagreeable with
• you can advocate for
• potentially your competitive advantage.
For Falguni, the SPOV could be:
To be successful, you don't have to start small.
When the need is overwhelming and widely distributed, a broader approach is appropriate.
That explains why Nykaa provides a wide range of luxury & affordable beauty products, all on one platform.
To be successful, you don't have to start small.
When the need is overwhelming and widely distributed, a broader approach is appropriate.
That explains why Nykaa provides a wide range of luxury & affordable beauty products, all on one platform.
Even with this insight, Nykaa received only 60 orders per day early on.
For a target audience that large, this response was underwhelming.
But once again, another one of Falguni's insights flipped the script.
She prioritised consumer education, through content marketing.
For a target audience that large, this response was underwhelming.
But once again, another one of Falguni's insights flipped the script.
She prioritised consumer education, through content marketing.
Here are 3 specific tactics by Nykaa to educate and persuade their customers:
1/ Nykaa TV: a YouTube channel to educate consumers on personal care.
→ More than 1.2 Mn subscribers.
2/ Nykaa Network: India's first interactive beauty forum.
→ More than 3.6 Mn members.
1/ Nykaa TV: a YouTube channel to educate consumers on personal care.
→ More than 1.2 Mn subscribers.
2/ Nykaa Network: India's first interactive beauty forum.
→ More than 3.6 Mn members.
3/ Explore: "watch and buy" in app integration that lets consumers shop from the given content.
→ 4.4 Mn visits & 10 Mn post views.
These tactics are intuitive, simple, and clearly they work.
→ 4.4 Mn visits & 10 Mn post views.
These tactics are intuitive, simple, and clearly they work.
Today, Nykaa has reached 15 million registered users.
From 1,800 to 1.5 million orders a month, their growth has been exceptional.
In fact, along with company, the Nykaa IPO may prove beneficial even for India.
For example, it can help weaken the age and gender stereotypes.
From 1,800 to 1.5 million orders a month, their growth has been exceptional.
In fact, along with company, the Nykaa IPO may prove beneficial even for India.
For example, it can help weaken the age and gender stereotypes.
But for Nykaa, the finances can help:
1/ Launch more physical retail stores.
2/ Expand warehouses.
3/ Repay loans & general corp. purposes.
4/ Double down on growth via marketing.
And Long-term, I hope Nykaa remains profitable & even exceeds its current level of growth.
1/ Launch more physical retail stores.
2/ Expand warehouses.
3/ Repay loans & general corp. purposes.
4/ Double down on growth via marketing.
And Long-term, I hope Nykaa remains profitable & even exceeds its current level of growth.
This story portrays the power of:
1/ Self-belief → Turn disbelief from others into passion for yourself.
2/ Content marketing → Making it easier for the consumer is your primary goal.
3/ Promises → If you make one, then stick to it...
It can be worth $6.5 Bn some day.
1/ Self-belief → Turn disbelief from others into passion for yourself.
2/ Content marketing → Making it easier for the consumer is your primary goal.
3/ Promises → If you make one, then stick to it...
It can be worth $6.5 Bn some day.
If you enjoyed this thread, then follow me @abhishekshah173
I tweet an Indian startup story like this every week.
And if you want another wild, Indian start-up story to read and learn from:
I tweet an Indian startup story like this every week.
And if you want another wild, Indian start-up story to read and learn from:
https://twitter.com/abhishekshah173/status/1450507082482917379?s=20
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