Nykaa stated on Tuesday that it will increase its existing majority ownership of 51% in Dot & Key to 90% by purchasing an additional 39% stake for Rs 265 crore. According to the deal, Suyash and Anisha Saraf, the founders of Dot & Key, will continue to manage and develop the business and will maintain an ownership position in the firm.

Nykaa made its initial investment in 2021, and the brand has developed significantly since then, with profitability achieved in early 2023. Adwaita Nayar, Co-founder and CEO of Nykaa Fashion and Beauty Brands, stated, "The Dot & Key success story demonstrates the collaborative power of our relationship - driving excellence in unique formulas, continual innovation, energetic marketing, and holistic distribution. As we enter this new era, we intend to make significant investments in the brand, both in terms of people and processes.

The corporation will acquire the extra interest in a series of main and secondary transactions. Following that, Earth Rhythm will become a subsidiary of FSN ECommerce Ventures Limited.

Adwaita Nayar stated, "Earth Rhythm is an exciting addition to our owned brand portfolio, and it provides a chance to extend our presence in the clean beauty industry, which has enormous long-term potential. The brand's really unique formulas and dedication to sustainability across the supply chain - from ingredients to packaging to procedures - have resonated with its devoted customer base. We are excited to enhance the brand's reach and accessibility, as well as accelerate growth through operational synergies with the Nykaa ecosystem."