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MUMBAI : Online retailer Nykaa’s founder Falguni Nayar was named EY Entrepreneur of the Year 2021, and will now represent India at the EY World Entrepreneur of the Year Award on 9 June 2022, the consulting firm said in a statement.

“An investment banker turned entrepreneur, Falguni Nayar disrupted a brick-and-mortar industry by taking a digital route to sell beauty products in 2012. Her start-up, Nykaa, is one of the profitable start-ups in the country with a strong omni-channel presence. Over the last two years, she has diversified from beauty into fashion and lifestyle and has a well-established portfolio of over 2,600+ international brands and 100+ offline stores. The company recently raised fresh capital for expansion through a blockbuster IPO. Falguni was the recipient of EY Entrepreneur of The Year Award in the Start-up category in 2019," the statement said.

Rajiv Memani, chairman and CEO, EY India, said, “The backdrop of the awards this year is one of great resilience of India’s entrepreneurial ingenuity and the country’s growth prospects. Our EY Entrepreneur of the Year 2021 Winners should be celebrated for their success against all odds, especially in today’s business environment which is more dynamic than ever. Many of the winners are very young and have tremendously scaled their enterprises through innovation, adoption of new-age technologies, and value creation in a very short span of time. I congratulate each one of them for paving the way for other aspiring entrepreneurs and achieving excellence in their respective sectors."

Awards were also announced for nine other categories with the winners representing both mature industries and young entrepreneurs from start-ups including unicorns.

The winners were selected by a nine-member independent jury panel led by KV Kamath, former chairman, ICICI Bank. Other Jury members included Dr. Kiran Mazumdar-Shaw, Chairperson, Biocon, Vibha Padalkar, Managing Director and Chief Executive Officer, HDFC Life, Neeraj Bharadwaj, Managing Director, The Carlyle Group, Amit Dixit, Head Asia Private Equity, Blackstone, Rajnish Kumar, Former Chairman, State Bank of India, Harsh C. Mariwala, Chairman, Marico, Sanjiv Mehta, CEO and Managing Director, Hindustan Unilever, and Gopal Srinivasan, Founder, Chairman and Managing Director, TVS Capital Funds. The jury considered a host of criterion including the nominee’s entrepreneurial spirit, ability to navigate through Covid-19, recent financial performance, strategic direction, product or service innovation, leadership including personal integrity and risk-taking abilities, corporate governance, and social and environmental impact, EY said.

A.M. Naik from Larsen & Toubro was honoured with the Lifetime Achievement Award

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