Nykaa’s Falguni Nayar beats Kiran Mazumdar-Shaw to become India’s richest self-made woman

  • Falguni Nayar, founder of online retailer Nykaa, has overtaken the ‘Biotech Queen’ Kiran Mazumdar-Shaw and proceeded to become the richest self-made Indian woman, as per the IIFL Wealth Hurun India Rich List 2022

Livemint
Updated21 Sep 2022, 03:58 PM IST
Falguni Nayar, managing director and CEO of Nykaa, an online marketplace for beauty and wellness products, has been named the richest self-made Indian woman.
Falguni Nayar, managing director and CEO of Nykaa, an online marketplace for beauty and wellness products, has been named the richest self-made Indian woman.(AFP)

Online retailer Nykaa founder Falguni Nayar was named the richest self-made Indian woman, according to the IIFL Wealth Hurun India Rich List 2022 released today. released today. The 59-year-old beauty product mogul reportedly overtook Biocon's Kiran Mazumdar Shaw, 69, also well known as the ‘Biotech Queen’, as per the Hurun India rich list. Interestingly, according to the IIFL Wealth Hurun India Rich, this year, “the list has become more ‘inclusive’. The number of women in the list is 55 this year, up from 13 ten years ago.”

It is worth noting that earlier this year the online retailer Nykaa 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.

It is important to note that Hurun India and IIFL Wealth today released the IIFL WEALTH HURUN INDIA RICH LIST 2022, which is the 11th annual ranking of the richest individuals in India. While commenting on the launch, Anas Rahman Junaid, MD and Chief Researcher, Hurun India, said, “the trends in IIFL Wealth Hurun India Rich List 2022 prove that India has taken booster shots against the global crisis. Be it Ukraine War or inflationary pressures, the Indian growth story continues against all odds as 149 individuals entered the IIFL Wealth Hurun India Rich list of 1,103 who cumulatively have a wealth of INR 100 lakh crore. India also gave a new number two, Gautam Adani, to the Hurun Global Rich List.”

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First Published:21 Sep 2022, 03:58 PM IST
Business NewsNewsIndiaNykaa’s Falguni Nayar beats Kiran Mazumdar-Shaw to become India’s richest self-made woman

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