~ Announced at the IIMA Campus by Director IIMA and Nykaa Founder and CEO
India, September 27, 2022: The Indian Institute of Management Ahmedabad (IIMA), a premier global management institute, signed an agreement with Nykaa, to set up the “Nykaa Chair in Consumer Technology” today. The partnership announcement was made today at the Institute’s campus by Professor Errol D’ Souza, Director, IIMA and Falguni Nayar, IIMA alumna and Founder & CEO, Nykaa. The Chair has been set up for an initial period of three years and has been facilitated by the IIMA Endowment fund.
Speaking about the importance and objective of this Research Chair, Professor Errol D’Souza, Director, IIMA said, “With advancements in technological innovations in the last decade, the nature of technology and its social-economic impact has significantly evolved. Consumer connectedness through virtual and augmented environments and increased usage of digital tools across cultures requires knowledge on aspects of consumer tech innovation. Through our partnership with Nykaa, we aim to work together on finding research solutions to some of the immediate, real-time questions in the consumer tech space. We look forward to bringing on board a talented, research focused individual to take up this position at the institute.”
The Chair will work closely with students of IIMA and faculty members from Marketing and Information Systems areas. The focus will be on research and education that will:
- promote scientific practice of marketing
- present insights on the impact of digital, social, and mobile technologies on business models, customer behavior, and social changes at large
- facilitate incorporation of AI and machine learning insights in a disrupted marketplace.
- deploy economic and statistical models to measure the role of the Internet and new media on consumer and firm behavior
- understand the privacy-preserving future of digital advertising
IIMA has already established Centres of Excellence in new age areas in technology such as Centre for Digital Transformation (CDT) and Brij Disa Centre for Data Science and Artificial Intelligence (CDSAI). The Chair will also work closely with faculty members associated with these Centres and will enable multi-disciplinary research and generate insights that will help shape strategy, influence policy, and benefit the entire consumer technology sector in India.
Commenting on the formation of the Chair at IIMA, Ms Falguni Nayar, Founder & CEO, Nykaa said, “It’s a moment of pride for Nykaa and specially for me to launch a programme with my alma-mater, that focuses on consumer technology. As the founder of an organization that has harnessed the power of technology to disrupt beauty, and more recently the fashion market, I am convinced about its role in shaping the present and the future of Indian entrepreneurship. Through this chair at IIMA, we look forward to stewarding research and education by equipping students with foundational knowledge for building meaningful, insight -driven business models that use technology to solve for consumer needs.”
Thanking Nykaa, Ms Chhavi Moodgal, Chief Executive Officer, IIMA Endowment Fund said, “The Consumer Tech industry in India is pipped to become a $200-$250Bn opportunity by 2025. To reach its full potential, this sector needs dedicated research, assimilation, and propagation of best practices; and as well as guidance on usage of AI and Data Science, in which IIMA can be a thought leader. We would like to thank Nykaa and our alumna Falguni Nayar for this valuable contribution to the Institute. This is the third Chair being setup at IIMA courtesy the efforts of the IIMA Endowment Fund and we are delighted to bring such collaborations and opportunities to the IIMA ecosystem.”
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About IIMA Endowment Fund
The IIMA Endowment Fund is a first-of-its-kind initiative at any major management institute in the country. Setup in 2020 by 10 like-minded alumni to help solidify IIMA’s prominence in thought leadership, research, and academic excellence globally, the Fund is now the Institute’s dedicated philanthropic and fundraising arm for all donations to IIMA. IIMA EF has helped the Institute raise over INR 160 crore of commitments with more opportunities in the pipeline. In addition, IIMA EF also assists IIMA in managing donor relations and reporting for erstwhile donations (of over INR 250 crores). The IIMA EF recognizes and further enables alumni and corporate giving to the Institute through a formal, transparent and professionally run setup.
About Nykaa:
Nykaa (FSN E-Commerce) was founded in 2012 by Indian entrepreneur Falguni Nayar with a vision of bringing inspiration and joy to people, everywhere, every single day. Derived from the Sanskrit word ‘Nayaka’, meaning one in the spotlight, Nykaa has emerged as one of India’s leading lifestyle-focused consumer technologies platforms. Since its launch, Nykaa expanded its product categories by introducing online platforms Nykaa Fashion, Nykaa Man, and Superstore. Delivering a comprehensive Omnichannel e-commerce experience, Nykaa offers over 4,500 brands and over 4.6 million product SKUs through its website and mobile applications. The Nykaa Guarantee ensures that products available at Nykaa are 100% authentic and sourced directly from the brand or authorized retailers. Through engaging and educational content, digital marketing, social media influence, robust CRM strategies, and the Nykaa Network community platform, Nykaa has built a loyal community of millions of beauty and fashion enthusiasts.
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