M&A

M&A

Beauty retailer Nykaa to acquire addl stakes in Dot & Key, Earth Rhythm for Rs.310-Cr

Press Release   Business Line   Earth Rhythm  

Beauty and fashion retailer Nykaa will increase its stake in Kolkata-headquartered Dot & Key to 90% from 51% now for INR 265 crore. It would also buy a majority stake in Gurugram-headquartered clean beauty brand Earth Rhythm for INR 44.5 crore through a combination of primary and secondary transactions.Dot & Key has over 75 unique fruit-based formulations and has over 5 million customers, most of whom are Millennials and Gen-Zs. Suyash and Anisha Saraf, the Founders of Dot & Key, shall continue to manage and drive the business and will continue to have an ownership stake in the company.Earth Rhythm is a five-year old brand that offers over 250 stock keeping units across six categories. The brand develops clean and clinically effective beauty and personal care products that are safe for both people and the planet.