Financial Insights

Nykaa invests in KICA, Nudge Wellness and Earth Rhythm

Online omnichannel platform Nykaa has made strategic investments in three companies in the fields of clean beauty, nutricosmetics and athleisure.

The company has acquired 18.51% in Earth Rhythm, manufacturer of safe, effective and non-toxic skin care products for Rs 41.65 crores; 60% in Nudge Wellness for Rs 3.6 crores, a company that makes dietary supplements and nutricosmetics; and acquired KICA for Rs 4.52 crores, an athleisure brand.

Aneesha Labroo, Founder of Kica, said, “Kica has found strong synergies with Nykaa Fashion’s positioning within the e-commerce landscape and its engagement with a wide network of customers around the country.”

“The (Nykaa) investment is a clear endorsement of our efforts to build a clinically effective and technology-driven skin and hair care brand. Through this investment, our commitment to our customers and the planet is only going to get stronger,” Harini Sivakumar, Founder and CEO Earth Rhythm said.

The Nykaa stock, which was a bumper IPO in 2021, has been consolidating recently as it touched it’s lifetime low of Rs 1,219. The stock has recovered since then but is still below its opening price. The stock closed at Rs 1,820.65 yesterday.

Highlight by Aman Agarwal.

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