Nykaa in talks to acquire majority stake in Padukone's 82°E
Nykaa is in talks to pick up a majority stake in 82°E, the skincare label founded by Deepika Padukone.
The move could boost Nykaa's already strong beauty lineup and help it stay ahead in India's fast-growing market.
With 42 million customers, Nykaa aims to turn things around for 82°E, which has struggled with high prices and tough competition.
Padukone label revenue down 30% FY25
82°E saw its revenue drop by 30% to ₹14.7 crore in FY25, along with a loss of ₹12.26 crore, reflecting how hard it is for celebrity brands to stand out.
That's why more stars are teaming up with big companies (think Alia Bhatt joining forces with Reliance Retail).
Meanwhile, Nykaa's portfolio includes acquisitions like Dot & Key, and its profits rose sharply as it takes on rivals like Sephora and Tira in a market expected to hit $34 billion by 2028.