Billionaire Falguni Nayar had 'this wish' for Nykaa initially. Read here
Premium- Falguni Nayar said she hardly had any about the retail business when she started out in 2012, and the only clarity she had was that she wanted to be an entrepreneur
Nykaa founder Falguni Nayar said she hardly had any about the retail business when she started out in 2012, and the only clarity she had was that she wanted to be an entrepreneur. Nayar also wished that she had a technology proficient co-founder from the beginning, that would have made the journey easier.
Back in 2012, the newly-formed start-up struggled with technology. In fact, technology became a constraint in the journey, Nayar said, adding, ‘she only knew finance professionals before starting the journey.’ Before starting Nykaa, Nayar was an investment banker and worked for Kotak Mahindra Bank.
"I wish I had a co-founder from the technology field, that would have given me a great start."
While speaking at an event hosted by Kotak Mahindra Bank, Nykaa founder advised young entrepreneurs to be sure that they are in it for the long haul. “Keeping the ship at an even keel can help weather the travails of running an enterprise through the highs and lows."
Was clear not to be a 'me too'
Further, Nayar pointed out, that when she started off, most people focused on fashion or electronics because of the higher volumes in the segments. But since she was clear not to be a 'me too', she chose to plunge into the nascent beauty products space.
She was speaking at the launch of 'Kotak Wealth', an integrated offering from the private sector lender which combines offerings across the wealth management, portfolio management and alternate investing, among others, to provide a holistic approach to clients.
K V S Manian, the bank's wholetime director, said the overall Assets Under Management (AUM) for the group is ₹6.5 lakh crore.
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