Nykaa’s Co-Founder Adwaita Nayar Named Young Global Leader In World Economic Forum’s Class of 2024 

Adwaita Nayar, the co-founder of Nykaa and CEO of Nykaa Fashion, has been inducted into the World Economic Forum's Young Global Leaders Community as part of the Class of 2024. Comprising 90 remarkable individuals, this group of changemakers is at the forefront of shaping the future and fostering positive change through their innovative endeavors, according to a company statement. 

Some of the world’s most powerful political and business leaders, including several current and former Prime Ministers and Presidents, Nobel laureates, Fortune 500 CEOs, and billionaires, are part of this league. 

As co-founder of Nykaa, Nayar has played a pivotal role in the inception of the company and shaping it into the business it is today. In the initial years, her multifaceted leadership was evident in the varied projects she led at Nykaa, dealing with the complexities of fundraising, marketing, and operations. Her foray into physical retail led to Nykaa opening doors to 30 stores in only 18 months. 

A serial entrepreneur, at the end of 2018, she took over the reins of Nykaa’s newest venture at the time, fashion. Over time, Nykaa Fashion has emerged as one of the fastest-growing fashion platforms in India, owing to its growth in gross merchandise value (GMV). In the third quarter of FY24, Nykaa Fashion achieved a GMV of INR 1,013 crore. 

During Nykaa’s IPO, Nayar played a critical role in showcasing the fashion story to investors as part of 300+ roadshows. Under her guidance, Nykaa Fashion has established partnerships with over 3,000 leading international and domestic brands across four consumer divisions: women, men, kids, and home. 

Adwaita Nayar, co-founder of Nykaa and CEO of Nykaa Fashion, said, “Being inducted as a Young Global Leader by the World Economic Forum is truly an honor and a privilege. What is particularly exciting is to be able to learn from diverse delegates—learn about inclusive and sustainable practices in various countries and industries—and bring those ideas to India." 

For two decades, the Forum of Young Global Leaders has been at the forefront of cultivating a unique community of leaders who are dedicated to tackling the world's most pressing problems head-on. This community has served as an example of the impact that collective action can have, whether it is pioneering groundbreaking initiatives in public health and economic development or driving cutting-edge innovations in technology and sustainability over the years.