FSN E-Commerce Ventures, which owns beauty and fashion retailer Nykaa, confirmed that it is in talks with Deepika Padukone's skincare brand 82°E to acquire stake in the latter, in a stock exchange filing late Monday.
“The company evaluates various strategic opportunities for growth and expansion on an ongoing basis… it remains in discussions with concerned parties, including the one referred above,” Nykaa said in the filing. “The company will make appropriate disclosures/ announcements in compliance with applicable laws, as and when due,” it added.
ET had reported the development in its April 6 edition.
82°E, launched by the actress in late 2002 as a premium skincare label, could not make much headway, hampered by steep price tags of Rs 2,500 for 50-ml jars on average, diffused positioning and stiff competition. The direct-to-consumer (D2C) business reported 30% year-on-year decline in revenues to Rs 14.7 crore in FY25, and loss of Rs 12.26 crore.
Standalone celebrity-owned brands have rarely succeeded in India, which analysts attribute to lack of strategic positioning, pricing and execution, adding that star-power only attracts initial consumer trials. Examples of some celeb-owned brands that have faded include Nush fashion by Anushka Sharma, Rheson clothing by Rhea and Sonam Kapoor and Skult clothing by Shahid Kapoor.
Nykaa and Padukone already have an existing endorsement partnership, with the actress fronting the former’s signature campaigns such as Pink Friday Sale and Nykaaland. If the deal does go through, Nykaa’s market leadership position, cumulative beauty customer base of 42 million and scale could help turn around the flagging 82°E. Katrina Kaif's Kay Beauty, which operates as a joint venture with Nykaa, reported 50% increase in year-on-year revenue in FY 25, at Rs 132.4 crore.
The company has been actively pursuing a House of Nykaa strategy through strategic acquisitions, such as Nudge Wellness, Dot & Key skincare and Earth Rhythm. The beauty and fashion retailer reported 156% year-on-year increase in net profit to Rs 68 crore for the quarter ended December 31, 2025, on the back of strong demand and margin expansion, and consolidated revenue increase of 27% year-on-year to Rs 2,873 crore.
India is the world's fastest-growing beauty and personal care (BPC) market, and is expected to touch sales of $34 billion by 2028, up from $20 billion last year, according to a Nykaa-Redseer report. The sector is also being buoyed by higher investor interest. L’Oréal India is learnt to be in discussions to acquire digital-first startup Innovist, which owns brands such as Bare Anatomy and Vinci Botanicals. Unilever acquired D2C beauty brand Minimalist for close to Rs 3,000 crore last year, and Estée Lauder has bought full ownership of homegrown ayurvedic brand Forest Essentials.
“The company evaluates various strategic opportunities for growth and expansion on an ongoing basis… it remains in discussions with concerned parties, including the one referred above,” Nykaa said in the filing. “The company will make appropriate disclosures/ announcements in compliance with applicable laws, as and when due,” it added.
ET had reported the development in its April 6 edition.
82°E, launched by the actress in late 2002 as a premium skincare label, could not make much headway, hampered by steep price tags of Rs 2,500 for 50-ml jars on average, diffused positioning and stiff competition. The direct-to-consumer (D2C) business reported 30% year-on-year decline in revenues to Rs 14.7 crore in FY25, and loss of Rs 12.26 crore.
Standalone celebrity-owned brands have rarely succeeded in India, which analysts attribute to lack of strategic positioning, pricing and execution, adding that star-power only attracts initial consumer trials. Examples of some celeb-owned brands that have faded include Nush fashion by Anushka Sharma, Rheson clothing by Rhea and Sonam Kapoor and Skult clothing by Shahid Kapoor.
Nykaa and Padukone already have an existing endorsement partnership, with the actress fronting the former’s signature campaigns such as Pink Friday Sale and Nykaaland. If the deal does go through, Nykaa’s market leadership position, cumulative beauty customer base of 42 million and scale could help turn around the flagging 82°E. Katrina Kaif's Kay Beauty, which operates as a joint venture with Nykaa, reported 50% increase in year-on-year revenue in FY 25, at Rs 132.4 crore.
The company has been actively pursuing a House of Nykaa strategy through strategic acquisitions, such as Nudge Wellness, Dot & Key skincare and Earth Rhythm. The beauty and fashion retailer reported 156% year-on-year increase in net profit to Rs 68 crore for the quarter ended December 31, 2025, on the back of strong demand and margin expansion, and consolidated revenue increase of 27% year-on-year to Rs 2,873 crore.
India is the world's fastest-growing beauty and personal care (BPC) market, and is expected to touch sales of $34 billion by 2028, up from $20 billion last year, according to a Nykaa-Redseer report. The sector is also being buoyed by higher investor interest. L’Oréal India is learnt to be in discussions to acquire digital-first startup Innovist, which owns brands such as Bare Anatomy and Vinci Botanicals. Unilever acquired D2C beauty brand Minimalist for close to Rs 3,000 crore last year, and Estée Lauder has bought full ownership of homegrown ayurvedic brand Forest Essentials.
