dot & key: IPO-bound Nykaa buys skincare firm Dot & Key

IPO-bound Omni-channel magnificence and consumer-care merchandise retailer Nykaa has acquired homegrown skincare model Dot & Key. That is the primary D2C (direct to shopper) magnificence model acquired by Nykaa, which is trying to open its IPO concern on October 28.

This deal additional performs into the consolidation that the trade is seeing with well-funded excessive development manufacturers buying smaller area of interest firms to fill product gaps. “Following this funding by Nykaa, Dot & Key will be a part of Nykaa’s secure of owned manufacturers,” the corporate mentioned in a launch.

Based by Suyash Saraf and Anisha Saraf, Dot & Secret’s a new-age skincare model with merchandise equivalent to serums, face masks, toners and cleansers. The model has not too long ago expanded into nutraceuticals below the model ‘IKWI’, whose merchandise are dermatologically examined and cruelty free.

“We’re excited to carry Dot & Key into the Nykaa household in time to serve the demand in prime quality skincare by Indian shoppers. Dot & Key’s product vary presents an thrilling alternative for Nykaa because it permits us to increase the model’s attain to a bigger panorama of shoppers and enter the nutraceutical house as nicely. Dot & Secret’s a shopper centric model with a rising base of shoppers and a variety of skincare options,” mentioned Falguni Nayar, founder and CEO, Nykaa.

Ernst & Younger LLP was the unique adviser to Dot & Key on the deal.

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