Nykaa makes investments in Earth Rhythm, Onesto Labs, Kica

New Delhi: Beauty and fashion brand Nykaa on Friday announced strategic investments in homegrown D2C brand incubator Onesto Labs, science-focused beauty brand Earth Rhythm and activewear brand Kica.

Nykaa has acquired 18.51 per cent stake of Earth Rhythm at a consideration of Rs 41.65 crores, Anchit Nayar, CEO, E-commerce Beauty, Nykaa told reporters.

The company has also partnered with Onesto Labs to enter the nutraceutical space by acquiring 60 per cent stake in the company with an investment of Rs 3.6 crore, he added.

The company has fully acquired the activewear brand Kica for Rs 4.51 crore, Nayar said.

"This partnership with Onesto Labs is one-of-its-kind because we are now entering the 'edible beauty' category. Consumers today are getting progressively conscious about the quality of ingredients in their beauty products and their efficacy.

"Further, in our spirit of fostering and mentoring early-stage D2C (direct to customer) start-ups, the partnership with Onesto Labs is expected to disrupt a constantly evolving beauty market in India,” Nayar said.

Talking about Earth Rhythm, he said, the company is proud to partner with a promising early-stage startup and will help them to achieve their potential by leveraging Nykaa's expertise and ecosystem. Also Read: RBI Monetary Policy Committee members express concerns over inflation at MPC meet

"We welcome Kica into the Nykaa Fashion family to serve the growing demand for high quality, fashionable, and functional activewear," Adwaita Nayar, Co-Founder and CEO of Nykaa Fashion said. Also Read: 7 amazing iPhone 13 features that every owner must know: Back gestures, captions and more