- The investments were approved by the board of directors of
Nykaa on April 22, 2022. - Nykaa has acquired 18.51% shares in
Earth Rhythm Private Limited for ₹41.65 crore. - Nykaa also forayed into the dietary supplements category with the acquisition of
Nudge Wellness
The beauty and cosmetics ecommerce company has acquired 18.51% shares in Earth Rhythm Private Limited for ₹41.65 crore. Earth Rhythm was founded by Harini Sivakumar in 2018 and it clocked a revenue of ₹18.5 crore (unaudited) in fiscal year 2022 that ended last month. This is nearly a four-fold jump from ₹ 5.6 crore earned by the company in the last fiscal.
Nykaa acquired 60% stake in Nudge Wellness at a consideration of ₹3.6 crore. Nudge Wellness comes under Onesto Lab, founded by Rohit Chawla, Sifat Khurana and Vimal Bhola in 2018. This acquisition marks Nykaa’s entry into dietary supplements and nutricosmetic products.
Nutricosmetics are products and ingredients that act as nutritional supplements to care for skin, nails, and hair natural beauty.
"There has been a visible and conscious shift in consumer mindsets, with wellness taking centre stage, especially post-pandemic, towards health solutions that offer long-term payoffs. The combined advantages of Nykaa's experience in creating meaningful brands and our passion for science-forward beauty solutions will translate into Nudge Wellness,” said Rohit Chawla, founder of Onesto Labs.
Nykaa has also acquired athleisure brand KICA for ₹4.51 crore. Kica is an active wear athleisure brand that offers garments on their own website and other ecommerce platforms.
KICA will join Nykd, Pipa Bella, Twenty Dresses, RSVP, Gajra Gang, IYKYK, and Likha under the Nykaa Fashion banner. The company was founded by Aneesha Labroo in September 2016.
"With a strong vision to empower women to lead an active lifestyle, Kica is a brand that brings equal passion to product and community both. Kica has found strong synergies with Nykaa Fashion's positioning within the ecommerce landscape and its engagement with a wide network of customers around the country,” Labroo said in a statement.
Nykaa went public in November 2022 and its shares closed for trade at a price of ₹1,843 on April 22. The company currently sits on a market cap of ₹86,773 crore, or $11 billion.
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