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Glamorous omnichannel retailer Nykaa has made strategic investments in brands across all categories, including clean beauty, athleisure, and neutro-cosmetics.
Nykaa announced the acquisition of 3 beauty and wellness brands with total financing of around Rs 50 crore. The company said it acquired 18.51% of Earth Rhythm, Clean Beauty, and personal care cosmetics brands for Rs 41.65 crore. The beauty e-tailer also said it acquired Kica, an activewear athleisure, for 4.51 crore. Kica could be hosted under its fashion vertical Nykd, the company said in regulatory filings.
Earth Rhythm, presently called Soapworks India, was launched in 2015. "Nykaa's investment in Earth Rhythm strengthens the power and potential of the brand and addresses a growing market for products that are committed to being effective equally to the planet," the company mentioned.
Nykaa also said that acquiring a 60% stake in Nudge Wellness is for Rs 3.6 crore. This is part of the partnership Nykaa has formed with D2C brand Onesto Labs to create a new class of nutraceutical and wellness products. This partnership with Onesto Labs is considered one of Nykaa's most recent partnerships with national D2C brands aimed at strengthening the early-stage beauty and lifestyle ecosystem and building the next generations of brands focused on sustainable development and specialized in inclusive products.
Anchit Nayar, CEO, E-Commerce Beauty, Nykaa said, “This partnership with Onesto Labs is unique because we are now stepping into the category of edible beauty as we reimagine what clean and green beauty and wellness are likely to be in years to come. , just as today's consumers are beginning to realize the subtle elements of their beauty products and their efficacy.
Nykaa also received the India-activewear brand Kica for Rs 4.51 crore. After the release of Nykd All Day last year, Kica will also upload it to their portfolio. Kica is a crucial part of Nykaa fashion market growth this year alongside various consumers brands like Nykd, Pipa Bella, Twenty Dresses, RSVP, Gajra Gang, IYKYK, and Likha.