Nykaa raises stake in personal care brand Earth Rhythm

FSN E-Commerce Ventures, the parent company of beauty and fashion platform Nykaa, has completed a deal to increase its ownership stake in personal care brand Earth Rhythm, the company informed the exchanges in a filing on Sunday.

The company confirmed it has raised its stake in Earth Rhythm by about 25%. The new shares have now been officially transferred to the company.

This follows an earlier announcement in May when the company's board first approved plans to increase its ownership in Earth Rhythm.


Nykaa first invested in the company in April 2022, when it bought an 18.51% stake in Earth Rhythm for Rs 41.65 crore. In November 2024, ET reported that Nykaa parent acquired a majority stake in clean beauty and personal care brand.

Founded in 2015 by Harini Sivakumar, Sivakumar Varadarajan, and Arun Kumar, Earth Rhythm, formerly known as Soapworks India, is an internet-first brand offering a range of organic beauty products spanning skincare, haircare, and makeup.

The announcement did not reveal details of the deal cost or what the company's total ownership share in Earth Rhythm now stands at.

Nykaa has been steadily investing in and buying smaller beauty and wellness brands as part of its expansion strategy in India's online retail market. In August, Nykaa’s board of directors also approved the acquisition of a 51% stake in Mumbai-based skincare brand Aminu for Rs 32 crore.

The Nykaa parent reported a net profit of Rs 80 crore in the June quarter, up from Rs 24 crore a year ago. The company’s operating revenue rose 29% year-on-year (YoY) to Rs 2,782 crore in Q1 FY27, up from Rs 2,155 crore a year prior. Including other income of Rs 9.3 crore this quarter, its total income stood at Rs 2,791.3 crore.