Billionaire Falguni Nayar said on Tuesday she wanted to have a technology-savvy founder from the start, and said it was difficult to sell her beauty products to Nykaa at first.
She became an entrepreneur and an investment banker, founder and CEO of a listed company. decided to take a business step had no understanding of retail or technology. The only thing she had was the clarity to be an entrepreneur, then she looked for an idea.
“I wish I had one of the founders of technology, which would have given me a great start,” said Nayar Kotak at an event hosted by Mahindra Bank, from which she left to start her business.
Her newly established company initially struggled with technology for more than four years, and technology has become a constraint on travel, Nayar said, adding that she only knew financial professionals before embarking on the trip.
She advised budding entrepreneurs to love their ideas and be confident that they will be implemented for a long time. She said keeping the ship on a level keel could help overcome the difficulty of running the company through highs and lows.
In addition, Nayar said many people advised her to focus on fashion or electronics rather than beauty because of the larger segment volumes, but added that the desire not to be “me too” led her to choose an emerging space for beauty products. .
She spoke at the presentation of Kotak Wealth, an integrated private sector lender offering that combines asset management, portfolio management and alternative investment offerings, among other things, to give clients a holistic approach.
QMS Manian, the bank’s permanent director, said the group’s total assets under management (AUM) are $ 6.5 million.
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