1. Holding the fort
Falguni Nayar, Executive chairperson, managing director and chief executive officer, Nykaa Image: Mexy Xavier
With strategic decisions helmed by Falguni Nayar, Nykaa has been able to establish a loyal customer base. And, twelve years since its launch, Nykaa has disrupted India’s beauty industry landscape. As per the Q2FY25 financials, Nykaa’s profit after tax (PAT) was up by 66 percent and revenue surged by 24 percent for the same period. The company turned profitable in FY21 and has been on that path ever since. Nayar has been one of the gainers on the 2024 Forbes India Rich List at rank 89, with a net worth of $3.64 billion. However, it now faces growing competition with rivals like Flipkart’s Myntra, Tata Cliq, and Reliance’s Tira. Add to that the rise of quick commerce players selling beauty products. The burning question now is—will Nykaa manage to disrupt, yet again? Naini Thaker finds out.
2. Woman of the hour
Arundhati Bhattacharya, Chairperson and CEO of Salesforce India; Image: Selvaprakash Lakshmanan for Forbes India
It was in 2005 that tech giant Salesforce entered the Indian market, a late move compared to its contemporaries. But, it’s only in recent years that the brand has moved into top gear, accelerating its growth and presence across the country. A key turning point came four years ago when Arundhati Bhattacharya, former chairperson of the State Bank of India, made a significant career shift and joined Salesforce, marking a new chapter in the company’s journey in India. In the last four years, the business has grown by about 4x. In November, Salesforce India saw its total revenue go up by over 36 percent. But she feels she’s just started and has more to learn. Here are the challenges and opportunities that lie ahead for her.
3. The man behind it all
Vijay Chauhan, Managing director and chairman, Parle Products
Mango Bite, Kismi, Poppins–one can’t help but remember how Parle has been an integral part of growing up, with Parle-G biscuit being a constant companion. At its Mumbai-based office, chairman and managing director, Vijay Chauhan, recounts his journey of joining the family business. His leadership enabled Parle Products to maintain its market prominence and the lasting appeal of Parle-G—the common man’s biscuit. Now, the third generation manages the daily operations and has worked extensively on expanding the contract manufacturing network, increasing the marketing footprint, and improving logistics. However, can they continue the bull run? Read to find out.
Discover:
1. The mind game
Mugdha Bavare, Sports psychologist and Founder, Mindsports
Mugdha Bavare has been a pioneer in her field. Once an accomplished swimmer, she took to the study of an athlete’s mind at a time when there was hardly any awareness about sports psychology. Ever since she’s worked with multiple athletes—from Olympic and Paralympic athletes to the cricket team—helping them fight their mental demons. She started with the Mumbai Cricket Association (MCA) in 2006, and, at present, runs her practice called Mind Sports. Bavare has also authored a book on the subject. In an episode of Sports UnLtd, she shares what it takes to transform the mind of an athlete. Here’s how she maximises their performance potential.
2. Founder mode or manager mode?
(Left)Rajat Diwaker, CEO, iD Fresh Food India and Naveen Tewari, founder and CEO, InMobi and Glance Image: Nishant Ratnakar for Forbes India
Writer, entrepreneur, and investor, Paul Graham, in a blog post, outlined two diametrically opposite ways of running a company: Founder mode and manager mode. The way managers are taught to run companies is like modular design. They treat subtrees of the org chart as black boxes. They tell direct reports what to do, and it’s up to them to figure out how. “But they don’t get involved in the details of what they (direct reports) do,” he said in his post which was inspired by a Y Combinator speech by Airbnb CEO and co-founder Brian Chesky. However, on the existence of another mode, the founder mode, Graham added, “Curiously enough… we still know so little about founder mode.” Rajiv Singh presents both sides of the coin in this detailed piece.
3. New beginnings
The newly appointed Reserve Bank of India (RBI) governor Sanjay Malhotra leaves after addressing a press conference, in Mumbai on December 11, 2024. Image: Indranil Mukherjee / AFP
Veteran bureaucrat and Princeton-educated Sanjay Malhotra took charge as Reserve Bank of India (RBI) governor on December 11, for a three-year term, replacing predecessor Shaktikanta Das. Not much is known about Malhotra’s views on the current economic outlook and policies for India relating to interest rates and the movement of the rupee. However, Malhotra would need to focus on a combination of a new RRR in the making—rates, rupee, and [proactive] regulation—to ensure that stability continues to be maintained, much like what Das managed to achieve during his tenure. Read more
4. Gukesh Dommaraju – World champion
A fan takes a selfie with India’s grandmaster Gukesh Dommaraju (C) after his win against China’s chess grandmaster Ding Liren in game 14 of the 2024 FIDE World Championship in Singapore on December 12, 2024. Image: Simon Lim / AFP
Earlier this year, D Gukesh won the Candidates tournament, solidifying his position as the youngest contender for the world title. On December 12, he was crowned the youngest-ever World Champion after he beat Chinese Ding Liren in a gruelling contest that spanned three weeks, and was nerve-wracking for both competitors. He now joins the ranks of Indian chess greats, such as Viswanathan Anand, as a global chess champion. Here’s a snapshot of his journey to the top
