Nykaa acquires stakes in diverse brands Earth Rhythm, Nudge Wellness and KICA

Indian beauty e-commerce behemoth Nykaa has announced investments in three companies today namely, Earth Rhythm, Nudge Wellness and KICA. The company has acquired 18.51 per cent stake in beauty brand Earth Rhythm for Rs 41.65 crore, a 60 per cent stake in Nudge Wellness for Rs 3.6 crore. Nykaa has also acquired athleisure brand KICA for Rs 4.51 crore.

Earth Rhythm, which manufactures cosmetics and toiletries, had a revenue of Rs 18.56 crore for FY2021 - 22. According to Nykaa, this investment will further strengthen its product portfolio and will move it into the sustainable beauty segment and will also improve its positioning in a growing market for products that are committed to efficacy as well as the planet.

On acquiring a 60 per cent stake in Nudge Wellness, Nykaa said via this acquisition it will make an entry into dietary supplements and nutricosmetic products. Nykaa has also announced its partnership with D2C brand incubator Onesto Labs Private Limited, the category of which will be added under Nudge Wellness Private Limited.

Onesto currently holds 100 per cent of Nudge, and will hold 40 per cent stake in Nudge upon closing of the transaction, Nykaa stated in an official release.

The Rs 4.51 crore transaction with KICA "will be in the direction of Nykaa Fashion Private Limited's mission to strengthen its active-wear play providing greater variety and curation for the growing active-wear community of athletes and everyday fitness seekers. This transaction will also augment current offerings under the company's brand "Nykd", Nykaa mentioned in its BSE filing.

Also Read: Renault mulls separating electric car business via IPO

Also Read: ISRO Chairman, Maharashtra MP Navneet Rana given VIP security cover