Nykaa acquires majority stake in Earth Rhythm

Multi-brand beauty business Nykaa has acquired a majority stake in Indian clean beauty brand Earth Rhythm. Nykaa first acquired a minority stake in Earth Rhythm in 2022 and has increased its stake in the business as it sees strong potential for long term growth.

Nykaa will acquire the additional stake in Earth Rhythm through a combination of primary and secondary transactions, the business announced in a press release. Following this, Earth Rhythm will be a subsidiary of Nykaa’s parent company FSN E- Commerce Ventures Limited. 
 
“Earth Rhythm represents an exciting addition to our owned brands portfolio, and it presents an opportunity to expand our play in the clean beauty space, a category with immense long-term potential,” said Adwaita Nayar, co-founder of Nykaa and CEO of Nykaa Fashion and Beauty Brands in a press release. “The brand’s truly unique formulations and commitment to sustainability across the supply chain – from ingredients to packaging to processes – have struck a chord with its loyal consumer base. We look forward to expanding the reach and accessibility of the brand, ramping up growth by leveraging operational synergies with the Nykaa ecosystem.”
 
Earth Rhythm launched in 2019 and describes itself as a transparent and sustainable brand. Earth Rhythm currently retails over 250 SKUs in six product categories and owns its own research and development and manufacturing facilities.
 
“I am thrilled beyond words that Earth Rhythm has received a powerful affirmation from Nykaa in our journey and the impact we’re making,” said Earth Rhythm’s founder and CEO Harini Sivakumar. “Nykaa has a comprehensive and a strong distribution platform that can be leveraged by brands, allowing them to grow in a profitable manner. Nykaa’s 360-degree marketing across social media, influencer network and content allow brands to grow in an otherwise competitive market. With thisdeepened partnership, Earth Rhythm can continue to innovate and grow, bringing even more value to our existing customer base while expandingour reach. I’m incredibly excited for what lies ahead.”