In a move to strengthen its premium beauty portfolio, FSN E-Commerce Ventures, the parent company of Nykaa, has confirmed it is in active discussions to acquire a majority stake in 82°E, the high-end skincare brand co-founded by Bollywood star Deepika Padukone.
While a final agreement has not yet been reached, Nykaa addressed the market speculation in a recent regulatory filing, stating that it “evaluates various strategic opportunities for growth” and is currently in talks with the relevant parties.
The potential acquisition follows a challenging period for 82°E. Since its launch in late 2022, the brand has struggled with:
- Premium Pricing: With average products priced around ₹2,500, the brand faced a steep climb in a competitive “masstige” market.
- Financial Hurdles: Recent reports indicate a 30% revenue dip in FY25, alongside a net loss of over ₹12 crore.
- Scaling Distribution: By joining the “House of Nykaa,” 82°E would gain instant access to Nykaa’s massive digital reach and expanding physical retail footprint.
The beauty industry is watching closely, as standalone celebrity brands in India have seen mixed results. While Katrina Kaif’s Kay Beauty (a Nykaa partnership) has seen significant success, other solo ventures by stars like Anushka Sharma and Sonam Kapoor have struggled to maintain momentum.
Investors reacted positively to the news, with Nykaa’s shares seeing a notable uptick following the confirmation of the talks.
