Nidhi Sharma believes money has the power to build a legacy and a brand. She channelled the money she had saved over the years to launch a business powered by her passion for beauty.
The Indian entrepreneur, who has been living in the UAE for two years, created e-tail app NOUR to disrupt the way customers shop for beauty products online.
“Our mission is to become the go-to beauty destination for users in the UAE and across the GCC,” she says.
“The current e-commerce ecosystem is based on ‘what’ to buy. The future is all about the ‘why’. NOUR is the answer to that.”
Ms Sharma kicked off her career as a beauty writer at Vogue India, a role that paid very little but offered “immense satisfaction and growth”.
She later became beauty director, and conceptualised and executed the Vogue Beauty Awards for a decade.
“This experience allowed me to work closely with industry stalwarts like Victoria Beckham, Bobbi Brown and Karl Lagerfeld,” Ms Sharma recalls.
She lives in Downtown Dubai with her husband, Gulrayz, who is the co-founder of NOUR.
Did wealth feature in your childhood?
I come from money, but it was fairly understated during my childhood. My father works in real estate, experiencing the emotional and financial highs and lows that come with it.
My mother is a homemaker who instilled the value of money. I received a moderate allowance, which taught me the importance of managing money wisely, even during times of abundance or scarcity.
How did you first earn?
My first earnings came from internships at beauty counters in Selfridges. My first salaried job was as a beauty writer at Vogue India, where the pay was quite modest.
However, I wasn’t there for the money. I was driven by my love for the beauty industry and the iconic brand that is Vogue.
The experience and knowledge I gained were priceless and set the foundation for my future career.
Any early financial jolts?
Absolutely. Running a start-up like NOUR involves constant financial stress. There have been countless moments when financial uncertainties have kept me up at night.
However, each jolt has taught me resilience and the importance of meticulous financial planning and management.
How do you grow your wealth?
I work incredibly hard. I’ve been fully committed to my career since I was 18 and have rarely taken time off. I’ve invested every penny I’ve saved over the years into my start-up, including my fixed deposits.
My focus is on making my business a success and a formidable beauty brand. That, for me, would be my biggest wealth.
Building a legacy and a brand is what drives me.
Are you a spender or a saver?
I’d like to think of myself as a saver, but in reality, I’m more of a spender. However, running a business operation has taught me the importance of budgeting and financial planning.
Have you been wise with money?
I’ve been extremely wise with money. I plan a lot and evaluate the value of money spent. I’m wise with investing in my health and experiences that help me grow as a person.
What has been your best investment?
My best investment has undoubtedly been in myself.
I've devoted considerable time and effort to both my mental and physical health. Strength training is something that grounds and empowers me. It gives me the discipline and the resilience to tackle any challenge that comes my way.
Money represents the freedom to innovate, to take risks and to create something that genuinely resonates with people
Nidhi Sharma,
founder, NOUR
I've invested heavily in my passion for beauty. I’ve spent four years learning how to read, write and speak Korean – as the beauty capital of the world, I wanted to understand the nuances that make it so influential.
From watching cosmetic chemists break down formulations to reading [the] ingredients list just for fun, over the years I’ve dedicated a little bit of my every day to enhance my understanding of every aspect of the beauty industry.
Any cherished purchases?
I’ve always wanted to give my mother a timeless piece of jewellery. My most cherished purchase would have to be the tennis bracelet I bought her a few years ago.
How do you feel about money?
Growing up, I saw money as a means to an end, a way to access opportunities and experiences.
But beyond the numbers, money also represents freedom. It's the freedom to innovate, to take risks and to create something that genuinely resonates with people.
Money should work for you, not the other way around. And when you reach a point where you can give back – whether that's through philanthropy, mentorship or creating opportunities for others – that's when it truly becomes powerful.
Money is an instrument of change, it’s important to understand its potential and leverage it to create a lasting impact.
Any financial advice for your younger self?
I’d tell myself to start thinking about money as a tool for freedom, not just security. Invest wisely, don’t just keep money in the bank.
Any key financial milestones?
Not having to think about money is truly liberating. It may sound simple, but achieving a state where financial concerns no longer dominate your thoughts is a profound milestone – it allows you to focus solely on innovation and growth.
What luxuries are important to you?
One luxury that's incredibly important to me is time. Time to reflect, time to connect with the people I love and time to invest in my personal growth.
In the fast-paced world of entrepreneurship, where every second counts, carving out moments just for yourself becomes a true luxury.
I find immense value in the luxury of self-care. This might seem like a cliché, but for me, it’s about those small rituals that make a big difference – like a long, leisurely self-care Sunday dedicated to all things beauty and self-love.
What are your financial goals?
My financial goals are centred around security and freedom. I want to build NOUR into a brand that resonates with the consumers.
Financially, this translates to sustainable growth, reinvesting profits back into the business to fuel innovation and expanding our reach to new markets.
Ultimately, my financial goals are not just about numbers. They are about creating an impact.
'Worse than a prison sentence'
Marie Byrne, a counsellor who volunteers at the UAE government's mental health crisis helpline, said the ordeal the crew had been through would take time to overcome.
“It was worse than a prison sentence, where at least someone can deal with a set amount of time incarcerated," she said.
“They were living in perpetual mystery as to how their futures would pan out, and what that would be.
“Because of coronavirus, the world is very different now to the one they left, that will also have an impact.
“It will not fully register until they are on dry land. Some have not seen their young children grow up while others will have to rebuild relationships.
“It will be a challenge mentally, and to find other work to support their families as they have been out of circulation for so long. Hopefully they will get the care they need when they get home.”
RESULT
Manchester City 1 Sheffield United 0
Man City: Jesus (9')
Will the pound fall to parity with the dollar?
The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.
Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.
New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.
“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.
The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.
The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.
Bloomberg
Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
ORDER OF PLAY ON SHOW COURTS
Centre Court - 4pm (UAE)
Gael Monfils (15) v Kyle Edmund
Karolina Pliskova (3) v Magdalena Rybarikova
Dusan Lajovic v Roger Federer (3)
Court 1 - 4pm
Adam Pavlasek v Novak Djokovic (2)
Dominic Thiem (8) v Gilles Simon
Angelique Kerber (1) v Kirsten Flipkens
Court 2 - 2.30pm
Grigor Dimitrov (13) v Marcos Baghdatis
Agnieszka Radwanska (9) v Christina McHale
Milos Raonic (6) v Mikhail Youzhny
Tsvetana Pironkova v Caroline Wozniacki (5)
What is a robo-adviser?
Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.
These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.
Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.
Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.
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$1,000 award for 1,000 days on madrasa portal
Daily cash awards of $1,000 dollars will sweeten the Madrasa e-learning project by tempting more pupils to an education portal to deepen their understanding of math and sciences.
School children are required to watch an educational video each day and answer a question related to it. They then enter into a raffle draw for the $1,000 prize.
“We are targeting everyone who wants to learn. This will be $1,000 for 1,000 days so there will be a winner every day for 1,000 days,” said Sara Al Nuaimi, project manager of the Madrasa e-learning platform that was launched on Tuesday by the Vice President and Ruler of Dubai, to reach Arab pupils from kindergarten to grade 12 with educational videos.
“The objective of the Madrasa is to become the number one reference for all Arab students in the world. The 5,000 videos we have online is just the beginning, we have big ambitions. Today in the Arab world there are 50 million students. We want to reach everyone who is willing to learn.”
