On the debut episode of The Masoom Minawala Show, Nykaa Founder Falguni Nayar and CEO Adwaita Nayar shared candid insights into the challenges they faced while building the beauty e-commerce platform. From managing investor rejections to navigating the pandemic, the Nayars offered a behind-the-scenes glimpse into Nykaa’s journey to success.
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Falguni Nayar, who transitioned from investment banking to entrepreneurship, reflected on Nykaa’s early days. “We launched Nykaa with our family resources,” she said, adding that the platform secured its first seed funding of $2 million in April 2012.
However, securing funding wasn’t easy. “We approached 17-18 people, out of which only 7-8 chose to invest,” Falguni revealed, noting the initial scepticism they encountered. Adwaita elaborated, quoting some investors who dismissed the idea: “This business is not going to work, what are you even doing? It’s too small a market.”
Despite these hurdles, Falguni remained unwavering in her belief. “She didn’t take the rejections personally because she believed in herself,” Adwaita said, praising her mother’s resilience. Adwaita added, “Her superpower is that she is incredibly fearless.”
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Reflecting on how she stays motivated, Falguni shared her simple mantra: “You love what you are doing.” In 2020, Nykaa achieved a significant milestone by becoming India’s first unicorn startup led by a woman.
The discussion also delved into personal challenges, particularly ‘mom guilt.’ Falguni recounted her experiences as a working mother: “I used to travel extensively day and night and come home to Adwaita asking me to sign here and sign there. There’s a lot of guilt with young kids, especially for quality time. I used to keep telling myself, ‘How do I compete with a mother who is spending so much quality time with her kids?’ It’s a long-term thing and it doesn’t get easy. You really need to be jiddhi about what you want to achieve at work for you to overcome that guilt and say no, this matters to me and I need to do it.”
Adwaita shared how her mother’s passion and determination inspired her: “I saw my mom pursue everything that she is passionate about — how much she loved working, friendships, travel, treks despite having a busy career. Having all of that as a role model gives me the courage to be like her, wanting to live for myself.”
The host of the show, Masoom Minawala, also reflected on ‘mom guilt,’ noting that it isn’t exclusive to working parents. She shared how her homemaker mother, who lived life on her own terms, inspired her: “Being true to oneself sets an equally powerful example for children.”
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(Edited by : Shoma Bhattacharjee)
