Falguni Nayar of Nykaa Overtakes Kiran Mazumdar-Shaw to Become India's Richest Self-Made Lady

By: WE Staff | Thursday, 22 September 2022

According to the IIFL Wealth Hurun India Rich List 2022, which was published, Falguni Nayar, the creator of the online retailer Nykaa, is the richest self-made Indian woman. According to the Hurun India wealthy list, the 59-year-old beauty product tycoon passed Biocon's Kiran Mazumdar Shaw, 69, popularly known as the "Biotech Queen." It's interesting to note that this year, "the list has become more 'inclusive,'" according to the IIFL Wealth Hurun India Rich. This year, there are 55 women on the list, up from 13 ten years ago.

It is important to note that Falguni Nayar, the founder of the online store Nykaa, was selected the EY Entrepreneur of the Year 2021 earlier this year. Falguni will now represent India at the EY World Entrepreneur of the Year Award on June 9, 2022, according to a statement from the consulting firm.

Falguni Nayar, a former investment banker who became an entrepreneur, "disrupted a brick-and-mortar business by going online to offer beauty products in 2012. Her company, Nykaa, is one of the nation's most successful startups with a significant omni-channel presence. She has expanded her business beyond beauty over the past two years to include fashion and lifestyle, and she now has a reputable portfolio of more than 2,600 international brands and 100+ offline outlets. "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 significant to note that Hurun India and IIFL Wealth announced the 11th annual ranking of the richest people in India, the IIFL WEALTH HURUN INDIA RICH LIST 2022. The IIFL Wealth Hurun India Rich List 2022 trends demonstrate that India has taken proactive steps to combat the global financial crisis, according to Anas Rahman Junaid, MD and Chief Researcher of Hurun India. 149 people joined the list of 1,103 people on the IIFL Wealth Hurun India Rich list, who collectively have a net worth of INR 100 lakh crore, despite the Ukraine War and inflationary challenges. The Hurun Global Rich List also received a new number two from India, namely Gautam Adani.