Nykaa acquires majority stake in homegrown skincare brand Dot & Key

Nykaa has acquired a majority stake in homegrown skincare brand Dot & Key, the first direct-to-consumer (D2C) beauty brand acquired by the IPO-bound beauty and fashion e-commerce platform. This is the first D2C (direct-to-consumer) beauty brand acquired by Nykaa and following this investment by Nykaa, Dot & Key will join Nykaa's stable of owned brands, Nykaa said in a statement on Friday. While the company did not disclose the financial details, Nykaa's red herring prospectus (RHP) shows it purchased 3,35,000 equity shares from the existing shareholders of Dot & Key for about Rs 46.9 crore and further subscribed to 3,57,143 equity shares for a consideration of about Rs 50 crore. "On September 28, 2021, our company acquired 51 per cent of the outstanding equity shares of Dot & Key Wellness Private Ltd (Dot & Key) through the subscription and purchase of equity shares. "Following this investment, Dot & Key became one of our owned brands and this investment will ..

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