Did you know, India’s 29th unicorn is one of the few companies which follows an inventory-based eCommerce model, with warehouses in Mumbai, New Delhi, and Bengaluru, adding a layer of authenticity to its offerings?

Falguni Nayar, the founder of Nykaa, was initially hesitant to start the company. However, she left her well-cushioned banking job to kickstart her dream venture at the age of 50, without any prior experience in the retail or beauty industry.

An IIM-Ahmedabad alumnus, Nayar has managed to catapult to success bagging the title of the richest self-made woman in India with a net worth of $4.8 billion.

Nykaa, the first woman-led unicorn in the country, started in 2012. Nayar’s passion as a beauty enthusiast equips her to understand what consumers want, helping her build customer trust and satisfaction in a new type of retail.

Nykaa faced early challenges with logistics and distribution, making Nayar personally oversee the packing and shipping of orders from her home. As the company grew, she had to navigate the complex logistics of shipping and inventory management.

Nayar invested her own money into the company and relied on her network of contacts to secure initial funding. She was also able to leverage her experience in finance to make strategic business decisions and secure partnerships with investors.

She has also been vocal about the challenges of being a female entrepreneur in India and has worked to empower other women through her company and personal philanthropy.

She has also been a mentor to other entrepreneurs, including through her involvement with the Indian School of Business.

One of the primary factors attributing to Nykaa's success is its highly curated selection of premium products, a rarity in India's e-commerce market.

Customer feedback and demand for high-quality, affordable products also enabled Nykaa to identify gaps in the market and develop its products.