THE WHAT? Nykaa parent FSN E-Commerce Ventures has increased its stake in Indian personal care brand Earth Rhythm by approximately 25 percent, further strengthening its investment in the digital-first beauty business.
THE DETAILS Nykaa first invested in Earth Rhythm in April 2022, acquiring an 18.51 percent stake for Rs 41.65 crore, before subsequently taking majority ownership of the business. The latest transaction follows board approval in May to increase its investment, although Nykaa has not disclosed the transaction value or its resulting total stake. Founded in 2015, Earth Rhythm is a digital-first beauty and personal care brand spanning skincare, hair care and make-up. The move follows Nykaa’s recent approval of a Rs 32 crore investment for a 51 percent stake in Mumbai-based skincare brand Aminu.
THE WHY? The increased investment reinforces Nykaa’s strategy of building a broader portfolio of owned and invested beauty brands alongside its core retail platform, using acquisitions and strategic stakes to capture more value from India’s expanding beauty and personal care market.
Source: The Economic Times
