Adwaita Nayar – Strong careers and strong personalities can be developed through mentoring. My mother has been my greatest role model. She is my mother, my greatest friend, and my boss: Preeti Nayar
Adwaita Nayar, the co-founder of Nykaa and current CEO of Nykaa Fashion, first declared an economics major at Yale but soon realized that there was no way to stand out because everyone there was a student of economics. As a result, she switched to Applied Mathematics and graduated in 2012.
She worked for the management consulting company Bain & Company in New York for a year following graduation. Although she liked her job there, there wasn’t the same sense of excitement or ownership. She returned home, as a result, to work as the Chief Marketing Officer for Nykaa, the business founded by her mother Falguni Nayar.
The Concept Behind Nykaa’s Launch
Adwaita’s mother desired to quit her position as an investment banker and start her own business. They started discussing entrepreneurship and coming up with ideas when she told her to follow her heart.
They had three to four different business building concepts. For instance, they considered creating a model similar to Airbnb to rent out other people’s homes, but they quickly realized it would be challenging for hygienic and safety reasons. Old age homes were yet another thought that entered their minds. However, they eventually decided to launch a cosmetics company because the concept was compelling and e-commerce doesn’t need a lot of funding.
So, in order to launch Nykaa in 2012, her mother left her lucrative position as an investment banker.
“I didn’t think much about starting my own business when I was a kid. When I was a college student, I always imagined working in finance. But now I’m happy I was limited to being an entrepreneur. Although it’s been a fantastic adventure, it’s not what I had in mind for myself “said Adwaita Nayar.
The name “Nykaa’, in reality, was a gift from a friend of her family. The name’s origins can be traced to the Sanskrit word “Nika’, which denotes someone in the spotlight or an actress, who was anglicized into Nykaa by a family acquaintance.
Advice For Entrepreneurs
She strongly concurs with the advice that positivity and self-assurance are essential for success. “I believe that being optimistic is especially important when you have a team that follows you because your energy spreads and your energy is what propels everyone. Negativity has no place because anything can appear to be wrong at any time. So it’s crucial to offer optimism, she said.
She asserts that business owners must demonstrate to their team their commitment to their concept. Because people are writing about their views and optimism, nothing will work if they don’t demonstrate the enthusiasm that they’re going to make it happen.
Mentorship can develop strong professions and powerful personalities, she continued. My mother is my biggest supporter. She is my boss, mom, and also my best friend.
