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The Nykaa story - bootstrapped to IPO

In 2012 Falguni Nayar realised the need for a business that sells beauty products under one roof with experts to guide customers in their final purchase, this realisation led to the launch of Nykaa. Since then Nykaa has become the online go-to resource for beauty and wellness in India processing nearly 1.5 million orders per month. The common practice among retailers, especially in India, was to sell top beauty brands with little to no guidance provided to customers. Seeing this as an opportunity, Falguni Nayar used the “Customer First” approach to differentiate and grow her brand.

"Nykaa’s Minis" was a product of this approach. Mini packs of the desired cosmetics for people to test, this not only provides a cheaper option for the customers but also an opportunity for them to come back for more after they get hooked on to them. Nykaa earns its money not only from their own beauty line but also from commissions paid by beauty brands to sell their products on the website as well as offline stores. Nykaa’s ability to stay on top of trends, be the only e-commerce platform dedicated to beauty and wellness in India, have the largest collection of beauty brands, over 1300+, its inventory model strategy which puts the customer first, the Nykaa minis and strong influencer strategy helps them stand out from the crowd.

Nykaa is an excellent example of how seeing an opportunity, knowing your market and thinking outside the box helps you rise from small startup to a Unicorn.

To read more about how Nykaa conquered the market in style, check out these links:

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