Beauty and fashion retailer Nykaa recently announced investments in three brands – Earth Rhythm, Nudge Wellness, and KICA – for a total of Rs 49.76 crore.
Nykaa has taken an 18.51 per cent share in clean and sustainable beauty brand Earth Rhythm for Rs 41.65 crore. The new investment will strengthen Earth Rhythm’s product portfolio in the sustainable beauty category. The company had a revenue of Rs 18.56 crore in FY 22. Harini Sivakumar, founder and CEO of Earth Rhythm, sees the investment as an endorsement of their efforts for a clinically-effective, tech-driven skincare and haircare brand.
Nykaa took a 60 per cent stake in Nudge Wellness for Rs 3.6 crore. With this, Nykaa forayed into the nutraceuticals and dietary supplements space, which according to Anchit Nayar, CEO of Nykaa, is a fast-growing category on the platform. The category shows a growth of 17-18 per cent CAGR. Nudge Wellness, run by D2C brand incubator Onesto Labs, will become a subsidiary of Nykaa.
Meanwhile, Nykaa acquired the athleisure brand KICA for Rs 4.51 crore. Established by Aneesha Labroo in 2017, KICA would join Nykaa Fashion’s stable of owned brands, which currently has Nykd, Pipa Bella, Twenty Dresses, RSVP, Gajra Gang, IYKYK, and Likha. Nykaa has acquired the complete intellectual property rights of KICA, which will now come under Nykaa’s portfolio of activewear.
According to Falguni, founder and CEO of Nykaa, the company will contiue helping brands of all sizes and with unique offerings.
