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Beauty channel Nykaa announced on Friday that it made strategic investments in three companies that deal in clean beauty, cosmetics, Nutricosmetics, and athleisure.
Nykaa is India's largest omnichannel beauty destination platform, co-founded by former investment banker Falguni Nayyar. It houses 2400+, 100% authentic brands in the fields of makeup, skincare, haircare, bath and body, fragrance, grooming appliances, personal care, and health and wellness categories.
The company has acquired 18.51% in Earth Rhythm for Rs 41.65 crores, 60% in Nudge Wellness for Rs 3.6 crores, and acquired KICA for Rs 4.52 crores.
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Earth Rhythm is India's first homegrown company that invests in independent clinical trials and research. They manufacture skincare products that are safe, effective, and clinically proven with research and are certified to be non-toxic and cruelty-free.
Nykaa has made its entry into the field of dietary supplements and Nutricosmetics products with Nudge Wellness. KICA is an athleisure company that makes stylish, comfortable, and affordable activewear for women.
“In the last few years, consumer brands have taken the center stage and we are committed to serving our customers across the spectrum,” said Falguni Nayar.
With these acquisitions, Nykaa has marked its entry into new beauty segments and improved its platform to provide a wider range of products that fall within the range of clean beauty.
Nykaa was one of the best IPOs of 2021. The scrip opened in November 2021 and gained 9.3% on its listing day itself. Furthermore, the share managed to surge 26.8% in a month. However, the stock declined after that and touched a low of Rs 1,219.05. The scrip closed at Rs 1,820.65 yesterday.
Article by Aman Agarwal.
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