FSN E-Commerce Ventures, the parent company of beauty and fashion retailer Nykaa, has confirmed it is in discussions to acquire a stake in skincare brand 82°E.
In a stock exchange filing, Nykaa stated: “The company evaluates various strategic opportunities for growth and expansion of the business of the company on an ongoing basis. Pursuant to this, the company remains in discussions with concerned parties, including the one referred above.
“The company will make appropriate disclosures/ announcements in compliance with applicable laws, as and when due.”
According to a report by The Economic Times, 82°E has encountered headwinds, including elevated pricing levels, unclear positioning and intensifying competition.
Products are priced at around Rs2,500 ($27.03) for 50ml units.
The report noted that the direct-to-consumer brand recorded a 30% year-on-year decline in revenue to Rs147m in FY25, while posting a loss of Rs122.6m.
Nykaa and Padukone already share a commercial association, with the actor appearing in campaigns such as Pink Friday Sale and Nykaaland.
If the transaction materialises, the report suggested that Nykaa’s scale, including its customer base of 42 million, could help support a potential turnaround for 82°E.
The development aligns with Nykaa’s ongoing “House of Nykaa” strategy, under which it has pursued acquisitions such as Nudge Wellness, Dot & Key and Earth Rhythm.
The broader beauty and personal care market in India is projected to grow to $34bn by 2028, from $20bn last year, according to a Nykaa-Redseer report cited by The Economic Times.
The sector has also witnessed rising deal activity, including Unilever’s acquisition of Minimalist for nearly Rs30bn and Estée Lauder increasing its stake to full ownership in Forest Essentials.
