News on Medial

Nykaa acquires majority stake in Earth Rhythm

Entrackr · 25d

Omnichannel beauty platform Nykaa has acquired a majority stake in the homegrown clean beauty brand Earth Rhythm. This acquisition follows Nykaa's earlier minority stake investment in Earth Rhythm in 2022. The company has now secured a significant majority stake through a combination of primary and secondary transactions. Leveraging its ecosystem and expertise, Nykaa aims to drive Earth Rhythm's growth across various categories. The platform plans to enhance the brand's potential by focusing on innovation, marketing strategies, and omnichannel distribution, while maintaining Earth Rhythm's core values and unique positioning. Founded in 2019 by Harini Sivakumar, Sivakumar Varadarajan, and Arun Kumar, Earth Rhythm is an internet-first brand offering a diverse range of organic beauty products. Its portfolio spans skincare, hair care, makeup, and lip care, featuring items like face masks, toners, hair oils, shampoos, conditioners, lipsticks, and lip balms. The brand is known for its vegan, cruelty-free, biodegradable products made without artificial fragrances. Headquartered in Gurugram, Earth Rhythm previously raised $9.13 million from Anicut Capital and other investors. The brand has built a strong presence by offering clean, clinically effective beauty and personal care solutions. Earth Rhythm has experienced significant progress in a short period, demonstrating strong sales growth, customer acquisition, category expansion, innovation, and brand awareness. With a catalog of over 250 SKUs across six categories, it continues to expand its market presence. Nykaa, an omnichannel marketplace in beauty, wellness, and fashion, offers a wide range of private labels, including skincare brand Dot & Key, jewelry line Pipa Bella, and apparel brands Gajra Gang and Kica. In the beauty and fashion space, Nykaa faces competition from major players like Amazon, Flipkart, Myntra, and niche platforms such as Purplle.