Nykaa boosts stake in Earth Rhythm by 25%
Nykaa has increased its ownership in Earth Rhythm, a personal care brand, by roughly 25%. The company confirmed it's completed the transaction and now holds additional shares, but hasn't said exactly how much of Earth Rhythm it owns overall. Nykaa has systematically been investing in smaller beauty brands as it grows its presence in India's online retail sector.
- Nykaa adds 25% stake in Earth Rhythm
- Deal follows board approval from May
- Original 18.51% stake bought in April 2022
- Details of new total ownership not disclosed
- Nykaa reported June quarter net profit of Rs 80 crore
Sources covering this
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