Falguni Nair joined the rare ranks of self-made billionaire women this week, as the beauty startup she founded went public and quickly doubled down on its business debut. Now she’s encouraging more women to take control.
Ms Nair runs FSN E-Commerce Ventures Ltd, which raised 53.5 billion ($720 million) in its initial public offering and saw shares rise 96% on the first day of trading. According to the Bloomberg Billionaires Index, Ms Nair, who owns almost half of the $7 billion company and is India’s richest self-made female billionaire.
“Women need to keep the spotlight of their lives on themselves,” Ms. Nair said in an interview after launching the business. “I hope more women like me dare to dream for themselves.”
Ms. Nair founded her company, which runs e-commerce site Nykaa, in 2012 after working in investment banking and guiding other entrepreneurs through the IPO process.
At the time, most Indian women bought makeup and hair care products from neighborhood mom-and-pop stores, where the selection was few and testing was unheard of. She saw an opportunity to give customers easy online access to high-end beauty items, complete with tutorials and testimonials.
“India is going to be a huge retail market,” said Ms. Nair. “Indians will aspire for more, their spending power will increase and they will increasingly spend on lifestyle brands and services. Nykaa is in a good place.”
(Except for the title, this story has not been edited by NDTV staff and is published from a syndicated feed.)