Investment Banker To Building A SUCCESSFUL Unicorn - Nykaa's Founder Falguni Nayar & Adwaita Nayar

In conversation with Shradha Sharma, Falguni Nayar and her daughter Adwaita Nayar, the co-founders of Nykaa, talks about her transition from a comfortable banking job to starting a new business at the age of 50, and the importance of her entrepreneurial drive, strong reliance on data, and focus on work-life balance. Adwaita highlights the unique and diverse working culture they have established at Nykaa, their shared entrepreneurial spirit, and their dedication to delivering a high-quality customer experience. They also discuss the strategic decisions they made to diversify and grow their business, as well as their successful IPO. Their story emphasizes the power of resilience, ambition, and teamwork in achieving business success. KEY TAKEAWAYS: Falguni highlights the importance of empowerment received from parents in pursuing dreams, noting that her father did not treat her differently than her brother and encouraged her to pursue her ambitions. The shift from a successful career in finance to entrepreneurship was inspired by seeing the impact of IPOs and the vision of other entrepreneurs; Falguni Nayar wanted to fill a gap in the market she perceived in India. Nykaa, the business they founded, takes a youthful approach and focuses on authentic experiences for consumers. It was birthed from the belief that consumer brands often stand the test of time and live in the hearts of consumers. Three key factors to Nykaa's success are its alignment with the desires of the Indian woman, the emphasis on the "art of retailing", and the authentic concern for customers; these have allowed the brand to resonate deeply with its target audience. Despite its success, expansion into new arenas required a thoughtful approach to retain the brand's appeal; leveraging technology and understanding consumer problems allowed this shift in a category such as Fashion to be successful. 0:00 Intro 2:03 The Beginning 6:31 Transition from Investment Banker to Entrepreneur 10:21 Venturing into Entrepreneurship at 50 15:25 Navigating the Rough Path 18:52 Key Success Factors 21:18 Scaling for Growth 25:09 Biasness in the Workplace 29:29 Nykaa's Unique Culture 31:04 The Mother-Daughter Partnership 35:49 Achieving Work-Life Balance 44:21 Nykaa's Vision for the Next 10 Years 46:54 Principles for a Successful IPO 52:21 Purpose that Keeps One Going UTM Link: https://yourstory.com/topic/nykaa?utm... ABOUT SHRADHA SHARMA: Shradha Sharma is the Founder & CEO of YourStory. She started YourStory in 2008 to tell stories of entrepreneurs - something that mainstream media was not ready to do in 2008. Since then, Shradha has scaled YourStory to become one of India’s leading digital media platforms covering every aspect of India’s new economy. She was featured on Fortune’s list of the best 40 under 40 entrepreneurs in India for three years in a row. In 2018, she won the Forbes Power Trailblazers award and was twice featured on LinkedIn’s list of powerful influencers, along with Prime Minister Narendra Modi and actor Priyanka Chopra. Follow Shradha on LinkedIn here:   / sharmashradha   ABOUT YOURSTORY: YourStory is India’s biggest and definitive platform for startups and entrepreneurs related stories, resources, research reports, and analyses of the startup eco-system, mobile app developers, and more dedicated to promoting the startup ecosystem Also, don't forget to watch some of our most loved interviews: Kunal Shah -    • Kunal Shah on Building Cred for the future...   Ratan Tata -    • Startup Guru Ratan Tata's Journey to the T...   Alakh Pandey -    • @PhysicsWallah Like Never Before with Shra...   Nikhil Kamath -    • Ep 06: To invest or not to invest? | Money...   Nitin Kamath -    • Unfiltered deep dive with Nithin Kamath, F...   Follow YourStory on Twitter:   / yourstoryco   Instagram:   / yourstory_com   Linkedin:   / yourstory-com