Nykaa makes investments in Earth Rhythm, Onesto Labs, Kica

Nykaa has acquired 18.51 per cent stake of Earth Rhythm at a consideration of Rs 41.65 crores. 

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.