Beauty and fashion brand Nykaa has announced that it has completed the acquisition of a majority stake in Earth Rhythm, a home-grown personal care brand. FSN E-Commerce Ventures Limited, the parent company of beauty and fashion retailer Nykaa has picked up majority stake, following its purchase of 18.51% in Earth Rhythm Pvt Ltd in 2022, through a combination of primary and secondary transactions.
Founded in 2015 by Harini Sivakumar, Sivakumar Varadarajan, and Arun Kumar, Earth Rhythm claims to offer products that are vegan, cruelty-free, biodegradable, and free of artificial fragrances.
Nykaa said in a statement that it will help Earth Rhythm unlock further growth potential across categories by leveraging innovation, marketing, and omnichannel distribution capabilities while preserving the brand’s core values and distinct proposition.
“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 chief executive officer (CEO) of Nykaa Fashion and Beauty Brands.
“Nykaa has a comprehensive and strong distribution platform that can be leveraged by brands, allowing them to grow profitably. Nykaa’s 360-degree marketing across social media, influencer networks, and content allows brands to thrive in an otherwise competitive market,” said Harini Sivakumar, founder and CEO of Earth Rhythm.
