launch of its preliminary public providing (IPO) on October 28.
The phrases of the deal weren’t disclosed.
That is the primary acquisition by the Falguni Nayar-led startup within the direct-to-consumer area. The deal, nevertheless, is indicative
of the broader churn that’s afoot within the sector. “Following this funding by Nykaa, Dot & Key will be part of Nykaa’s steady of owned manufacturers,” in accordance with a press release launched on Friday.
Based by Suyash Saraf and Anisha Saraf, Dot & Key makes skincare merchandise comparable to serums, face masks, toners and cleansers. The model just lately expanded into nutraceuticals underneath the model ‘IKWI’, whose merchandise are dermatologically examined and cruelty free.
“We’re excited to convey Dot & Key into the Nykaa household in time to serve the demand in top quality skincare by Indian customers,” Nayar mentioned. “Its product vary presents an thrilling alternative for Nykaa because it permits us to increase the model’s attain to a bigger panorama of customers and enter the nutraceutical area as properly.”
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Ernst & Younger LLP was the unique advisor to Dot & Key on the deal.
“We created a distinct segment model with Dot & Key, centered on making merchandise based mostly on shopper wants. Nykaa’s place within the magnificence panorama in India and its sources will enable Dot & Key to develop additional as a model and scale to the subsequent degree,” mentioned Suyash Saraf.
Nykaa’s mum or dad agency, FSN E-commerce Ventures Ltd. plans to launch its IPO on October 28 to boost as a lot as Rs 5,200 crore at a valuation of as much as $7.2 billion (~Rs 55,000 crore), ETtech
reported on Thursday, citing individuals conscious of the matter. The problem will likely be a mixture of Rs 630-crore in contemporary inventory and a suggestion on the market of 41.3 million shares by present buyers, in accordance with IPO papers
accredited by the markets regulator.
Nykaa provides 4,078 manufacturers and over 3.1 million product inventory maintaining items (SKUs) via its web site and cell purposes, as of August 31, 2021. The corporate is among the many few worthwhile etailers in India. Within the fiscal ended March 31, its internet revenue stood at Rs 61.96 crore as towards a brand new lack of Rs 16.34 crore a 12 months in the past, on the again of income that rose 38% to Rs 2,453 crore in FY21.