Nykaa eyes majority stake in Deepika Padukone’s 82°E

Nykaa is in talks to acquire a majority stake in 82°E, the skincare brand founded by Deepika Padukone to strengthen its ‘House of Nykaa’ portfolio, according to media reports.

The discussions are understood to be at an early stage, with financial details and timelines yet to be disclosed. The potential move comes at a time when the brand is navigating a slowdown in growth.

Launched in 2022, 82°E entered the market as a premium skincare label with a focus on minimalist routines and high-priced formulations.

However, regulatory filings indicate that the brand’s revenue declined by around 30% year-on-year to approximately ₹14.7 crore in FY25, down from over ₹21 crore in the previous fiscal. The company also reported a net loss of about ₹12.26 crore, reflecting continued investment and pressure on profitability despite efforts to streamline costs.

The performance reflects the broader challenges faced by premium direct-to-consumer skincare brands in India.

While celebrity-led launches often generate initial interest, sustaining growth requires consistent repeat demand, strong positioning, and wide distribution. 

If the transaction materialises, FSN E-Commerce Ventures, the parent company of Nykaa led by Falguni Nayar, is expected to leverage its scale to expand the brand.

The company has a cumulative beauty customer base of around 42 million, which could be used to widen 82°E’s reach across online and offline channels.

The company has previously followed a similar model with Dot and Key as well as Kay Beauty where its collaboration with Katrina Kaif has seen strong traction under Nykaa’s ecosystem.

Nykaa and Deepika Padukone already share a professional association, with the actor serving as a global brand ambassador for the platform.

The reported discussions would build on this existing relationship, potentially extending it into a strategic investment.