FSN E-Commerce Ventures Ltd, the parent company of Nykaa, has confirmed it is in discussions to acquire a majority stake in actor Deepika Padukone’s skincare brand 82°E.

The potential Nykaa acquisition of Deepika Padukone's 82°E skincare brand arrives at a critical juncture for the celebrity-led venture, which recently reported a 30% year-on-year revenue decline for FY25. This development signals a potential consolidation wave within India's burgeoning celebrity beauty market. For Nykaa, the move represents a strategic effort to strengthen its "House of Nykaa" portfolio of owned brands. For 82°E, it offers a lifeline and a path to scale by leveraging Nykaa’s vast distribution network and marketing prowess in an increasingly competitive landscape.

What We Know So Far

  • FSN E-Commerce Ventures Ltd (Nykaa) confirmed in a stock exchange filing that it is in discussions with several parties, including Deepika Padukone’s 82°E, regarding a potential investment.
  • The negotiations are reportedly for a majority stake in the premium skincare brand, according to multiple reports from outlets including The Economic Times.
  • The talks follow a challenging fiscal year for 82°E, which saw its revenue decline by 30% to Rs 14.7 crore in FY25, as reported by Storyboard18.
  • The brand also posted a loss of Rs 12.26 crore in FY25, highlighting financial pressures since its launch in late 2022.
  • In its official clarification, Nykaa stated it "evaluates various strategic opportunities for growth and expansion" but did not confirm a finalized deal, noting that disclosures will be made "as and when due."

What are the strategic reasons behind Nykaa's potential 82°E acquisition?

Nykaa’s interest in 82°E is a calculated move to bolster its portfolio of in-house and partner brands. This strategy aims to create a moat of exclusive products, differentiating Nykaa from other multi-brand retailers like Tira and Tata Cliq Palette. The acquisition would add a high-profile, premium skincare brand to its "House of Nykaa," which already includes a successful celebrity partnership model.