The beauty giant Nykaa has acquired a majority stake in the clean beauty personal care and cosmetics brand Earth Rhythm. Nykaa has taken the step two years after making a minority investment in the brand. Read along to know more about the development.
The Indian, digital-first beauty and fashion retailer, Nykaa has over 200 stores in India. The retail giant has now announced that it has acquired the skincare brand, Earth Rhythm. The acquisition comes two years after Nykaa made a minority investment in the brand. The financial details of both the transactions have not been disclosed by the parties.
More About Earth Rhythm
As sentiments towards sustainability and natural ingredients have been increasing rapidly, the brand aims to cater to this. Offering elements like natural, clean ingredients and sustainable packaging, Earth Rhythm owns its own R&D and manufacturing facilities. With 250 products across six major categories, the brand aims to cater to a younger generation looking for a fresh and natural look.
The Way Ahead
The brand will now join Nykaa’s broader portfolio which consists of various brands, such as Kay Beauty, Nykaa Naturals, Nykaa Cosmetics, and many more. At present, Nykaa also hosts a vast variety of international brands, including Estee Lauder, Fenty Beauty, Clinique, Huda Beauty, and more.
From the Leadership Desk
In a statement, Adwaita Nayar, co-founder of Nykaa and chief executive of its fashion and beauty brand division, said the acquisition is an opportunity for Nykaa to play in the clean beauty space, which she described as a category with “immense long-term potential”.
Harini Sivakumar, founder and chief executive of Earth Rhythm, suggests that the partnership will prove to be beneficial for the brand. This is because the partnership will allow the company to leverage Nykaa’s marketing, distribution and influencer capabilities. This will further allow the brand to grow profitably.
