Nykaa: Makes strategic investments in Earth Rhythm, Nudge Wellness & Kica Active
25 April 2022, Mumbai:
Omnichannel beauty retailer Nykaa has made strategic investments in brands across categories such as clean beauty, athleisure, and neutri-cosmetics. The listed entity said it had acquired 18.51% of Earth Rhythm, clean beauty, and personal care cosmetics brand, for Rs 41.65 crore.
It further said it had taken a 60% stake in Nudge Wellness, a dietary supplement, and nutricosmetics products maker, for Rs 3.6 crore.
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It is also entering into the nutraceutical space by partnering with D2C brand incubator Onesto Labs. The Falguni Nayar-led Nykaa will form a new category of nutraceuticals and wellness products under Nudge Wellness.
To strengthen its active-wear play, Nykaa acquired Kica, founded by Aneesha Labroo in 2017 which provides stylish, high-quality products at an affordable price.
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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 said.
Nykaa has announced the 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.
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CREDITS: ET New Indian Express Financial Express Mint (The news article has not been edited by DFU Publications).
