Nykaa Sports Some ‘Fashionably Health-conscious’ Stakes

Photo by Redd on Unsplash

Since its market debut last year, the Indian beauty e-commerce behemoth – Nykaa – has been on an acquisition spree. The company has now announced investments in 3 companies to expand its business – namely, clean beauty brand Earth Rhythm, Delhi-based dietary supplements company Nudge Wellness and athleisure brand KICA.

What are the Stakes?

The company has acquired 18.51% stake in Earth Rhythm for Rs 41.65 Cr, a 60% stake in Nudge Wellness for Rs 3.6 Cr, and 100% acquisition stake in KICA for Rs 4.51 Cr.

Earth Rhythm, formerly known as Soapworks India, was launched in 2015 by Harini Sivakumar. “We are looking at developing more brands and products along with Nykaa,” its founder said.

Nykaa will partner with D2C brand incubator Onesto Labs to create a new category of nutraceuticals and wellness products under Nudge Wellness Private Ltd. Onesto Labs was founded by Rohit Chawla, Sifat Khurana and Vimal Bhola in 2018, and owns brands such as Chemist at Play, Bare Anatomy, and SunScoop SPF.

Nykaa Fashion, the firm’s fashion vertical, which has acquired KICA, was founded by Aneesha Labroo in 2017. KICA will be housed under its fashion vertical Nykd.

Beauty Beast in Big Business

The beauty and wellness retailer has also forayed into the salon business by partnering with Estee Lauder’s hair care brand Aveda last week.

Nykaa has kickstarted a Nykaa-Aveda branded salon in Bengaluru and will follow it up by opening two more in Mumbai and Delhi.

Too long? Here’s a one-liner: Nykaa acquires stakes in clean beauty brand Earth Rhythm, Delhi-based dietary supplements company Nudge Wellness and athleisure brand KICA.

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