Indian entrepreneur Adwaita Nayar has made a name for herself as a trailblazer in the retail sector. Falguni Nayar, the founder and CEO of Nykaa, a beauty and lifestyle retail company that was formerly known as FSN, is her daughter. From July 2021 to the present, Adwaita has served as Nykaa's executive director. She leads Nykaa Fashion as CEO and chairperson as well.
In 2012, her mother Falguni, a former investment banker, left her career to found Nykaa. As of July 18, the company's market capitalisation was Rs 51578 crore. It operates more than 120 stores throughout India and offers thousands of brands for sale online.
With a current net worth of Rs 27590 crore, Falguni is among the richest women in India, according to Forbes. Prior to joining Nykaa in 2013, Adwaita held a number of positions at Morgan Stanley, Bain & Company, Citi, and CARE Tanzania. She graduated from Yale University with a BA in Applied Maths and Harvard Business School with an MBA. She returned to the company in 2017 as CEO of FSN Brands after finishing her studies with the goal of building and enhancing Nykaa's offline retail presence.
She founded Nykaa Fashion company in 2018 and is currently in charge of managing nykaafashion.com as well as numerous partner and owned brands. Anchit Nayar, her brother, is employed by the same company. In 2017, he also quit his US job to work for his mother's business. He serves as Nykaa E-Retail's CEO and chairman.
Despite facing competition from formidable companies such as Amazon, Myntra, Mukesh Ambani's Reliance Jiomart, and Ratan Tata's Tata Cliq, Nykaa Fashion has been able to grow its market share. Falguni Nayar, Adwaita's mother, is the wealthiest self-made woman in India. Falguni Nayar came in at number 44 on Forbes' 2022 list of the 100 richest individuals in India. A Forbes report estimates her net worth to be approximately Rs 22,000 crore (USD 2.7 billion).
