According to a report recently, Nyka, a beauty retailer, may be listed in the stock markets at the end of this financial year with a valuation of $ 4.5 billion.
Falguni started Nykaa in the year 2012.
Till now household items, ration, clothes, shoes used to come online but now all the things like lipstick, kajal and makeup also come at your doorstep with just one click. The make-up products which are sold in the market at expensive prices, they are available at a good discount on the online site Nykaa. Nykaa was started in the year 2012 by Falguni Nair, a passout from Indian Institute of Management (IIM) Ahmedabad. Today this website has become the most popular website.
Who is Falguni who started Nayaka?
In 2012, when Falguni started Nykaa, she had worked as an MD in the country’s leading bank. For 18 years he worked as a Management Consultant with AF Ferguson. Born on 19 February 1963, when Falguni J turned 50, her focus shifted to beauty and wellness. Nyka’s profit in the financial year 2019-2020 was around 1,59.32 crores. This figure is also important because a year before this, Nyka had a loss of Rs 17.7 crore.
The name of the website is derived from the Nayaka Sanskrit word Nyka which means ‘the focal point’. Funds were raised for Nykaa after several rounds of funding. According to a report, in March 2020, Nykaa had received a fund of Rs 100 crore from Steadway Capital. With this, Nykaa became a unicorn startup whose value was 85 billion.
$4.5 billion valuation
According to a report recently, Nyka, a beauty retailer, may be listed in the stock markets at the end of this financial year with a valuation of $ 4.5 billion. Earlier this valuation was said to be more than $ 3 billion. Nykaa has benefited due to the increased shift on online sales during the COVID 19 pandemic. The revenue and profit of the company has increased. Nykaa is also going to bring its IPO in this financial year.
15 lakh orders delivered every month
There is no brand in the fashion world that you cannot find on Nykaa. Falguni left his job after working in a bank for 20 years and launched this website. Today, Nykaa is home to over 2.5 thousand brands and over 15 lakh orders are delivered every month. Today, Nykaa is also delivering luxury brands like Dior and Givenchy. In the year 2018, apart from women, the website also focused on male grooming.
Benefit also in epidemic
Nykaa is not only a leader in beauty products, but today 20% of Indian beauty content also generates on YouTube. In the COVID-19 epidemic, where the whole world had to face losses on the economic front, the benefits of Nyka increased. Nykaa is still a favorite brand of women. Leading actresses of Bollywood like Katrina Kaif and Alia Bhatt do its brand endorsement.
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