Nykaa acquires stakes in Earth Rhythm, KICA and Nudge Wellness
Premium- Nykaa has announced acquisition of 18.51% stake in clean beauty brand Earth Rhythm
Nykaa on Friday announced its strategic investments in three companies involved in clean beauty, athleisure nutricosmetics. The company has acquired stakes in Earth Rhythm, Nudge Wellness and KICA.
Nykaa has announced acquisition of 18.51% stake in clean beauty brand Earth Rhythm for ₹41.65 crore, 60% in Nudge Wellness for ₹3.6 crore, marking entry into dietary supplement & nutricosmetics products abnd athleisure brand 'KICA' for ₹4.51 crore.
Earth Rhythm, formerly known as Soapworks India, was launched in 2015. “Nykaa's investment in Earth Rhythm reinforces the potential of the brand and addresses a growing market for products that are committed to efficacy as well as the planet," the company informed in an exchange filing.
Meanwhile, Nykaa said its partnership with Onesto Labs to create Nudge Wellness is one among a slew of its recent partnerships with homegrown D2C brands, aimed at bolstering the early-stage beauty and lifestyle ecosystem and building the next generation of brands specializing in sustainable and inclusive products.
“Having launched Nykd All Day last year, Nykaa Fashion now adds Kica to its portfolio, offering the growing active-wear community of athletes and everyday fitness seekers greater variety and curation in this category," the company added.
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Nykaa (FSN E-Commerce) was founded in 2012 by Indian entrepreneur Falguni Nayar. Nykaa offers .over 4,000 brands and over 3.1 million product SKUs through its website and mobile applications.