Nykaa has added a skincare brand to its shopping cart, a week before its IPO

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Nykaa has added a skincare brand to its shopping cart, a week before its IPO
Dot & Key
  • Dot & Key is the first direct-to-consumer (D2C) brand acquired by Nykaa.
  • It has previously acquired two private labels — Pipa.Bella and 20Dresses.
  • Nykaa is expected to flag off its initial public offering (IPO) to raise ₹5,200 crore next week.
Fashion and beauty ecommerce platform Nykaa has added a direct-to-consumer (D2C) skincare brand Dot & Key to its shopping cart for the first time ever.

This development comes only a week before Nykaa is expected to flag off its initial public offering (IPO) to raise ₹5,200 crore.

Nykaa has made two acquisitions in the fashion space to date. This includes fine jewellery brand Pipa.Bella and clothing brand 20Dresses. Both these brands operate independently and sell their products online on their own website as well as Nykaa.

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Three-year-old Dot & Key will join Nykaa’s house of brands post this acquisition.

The Kolkata-based company was founded by Suyash Saraf and Anisha Saraf. It offers premium skincare products like serums, face masks, toners and cleansers. The company has also expanded into nutraceuticals under the brand ‘IKWI’, which claims to be dermatologically tested and cruelty free.

Nutraceuticals are products, which other than for nutrition are also used as medicines.

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Ernst & Young LLP was the exclusive advisor to Dot & Key on the deal.

“Dot & Key’s product range presents an exciting opportunity for Nykaa as it allows us to extend the brand’s reach to a larger landscape of consumers and enter the nutraceutical space as well. Dot & Key is a consumer centric brand with a growing base of consumers and a range of skincare solutions,” Falguni Nayar, founder and chief executive officer (CEO) of Nykaa said in a statement.

The acquisition by Nykaa will allow Dot & Key to scale up further, Suyash Saraf added.

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