Startup Story of Nykaa – Nykaa is the biggest online platform for skincare and beauty. Nykaa is a platform that has changed the scenario of online beauty shopping in the country. Nykaa is the biggest Indian startup in the country.
The best part about the brand is that it is a women entrepreneur’s brand. It is quite cool to know that a beauty and a skincare brand is started by a woman who made it to be the biggest in the country. Falguni Nayar, who is IIM A alumna is the owner of the startup.
Startup Story of Nykaa – She has been an investment banker for 19 years in the Kotak Mahindra Bank. She was the managing director at the banking place. Post this, she decided to start a venture of her own. The startup was begun in 2012.
Startup Story of Nykaa
The startup started as the online business platform but then moved on to having physical stores in various malls across the country. This is the biggest stop for the beauty destination in the country.
Nykaa is a brand that has all the original brands with over 400 brands and over 35,000 products. They have a range of cosmetics, skincare, hair care, fragrances, bath and body, luxury and wellness products for women and men. With time and good marketing skills, Nykaa has evolved to make a presence in the entire country nicely.
Their biggest marketing strategy is to collaborate with the biggest beauty and skincare bloggers, YouTubers, and the influences of the country. This has made it easier for the brand to become a household brand. She started this brand as she observed the online growth of the e-commerce business in India.
She started this brand as a result of her love for makeup. “I love make-up but I don’t have time to put it on any more!” She started the brand when she was 50 and her kids left for higher studies abroad. She had enough time on her hand and she wanted to do something adventurous.
Startup Story of Nykaa
This is how she came with this idea of jumping into new things. The company also has 17 stores across India. There are two store formats – Nykaa Luxe and Nyka On Trend. Luxe has Indian and international beauty brands along with Nykaa Beauty. Their targeted audience is in the range of 18 to 35.
They also have entered into the domain of fashion and are selling high end fashionable clothes. It works in an inventory based model, Nykaa has warehouses in Mumbai, New Delhi and Bangalore, and offers all leading brands including Kaya Skin Clinic, Lakmé, L’Oréal Paris and more.
The word Nykaa is derived from the word Nayika which means actress in English. She believes every woman is an actress of their life and hence this is the name for the brand for making every woman feel the same. This is such an inspiring and thoughtful name.
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