Beauty Company Earth Rhythm shares bought by e-commerce startup Nykaa

Nykaa April 22n/a came out to say the company had acquired an 18.51% stake in beauty brand startup Earth Rhythm. The entire deal is expected to be official by the end of next month according to company representatives. The entire transaction is expected to net Nykaa of Rs. 41.65 crores.

Earth Rhythm is a start-up created in 2018 by Harini Sivakumar and headquartered in Gurugram, Haryana. The company is unique in that it produces and sells products that are 99% plastic-free, certified organic, and zero waste during manufacture.

The company currently has an online store from which it sells all of its products. They also sell most of their products on other e-commerce sites such as Amazon and Myntra. They currently don’t have actual stores as all of their business is online, direct to consumer, currently. This type of model significantly reduces overhead.

The company also has a culture of helping lower class people and women, as over the past few years the company has hired many women from economically backward families, trained them and provided them with means of subsistence, as well as to their families. As the company is based near Delhi, the women they hire also come from the region or surrounding areas.

Earth Rhythm General Manager – Anchit Nayar said that their company is first and foremost transparent and has a story and a message that it has spread about the earth and its products and that is what companies like Nykaa are looking for. when they invest in other companies. . The founder’s story of the inspiration and motivation behind creating the company is what makes the brand so unique and appealing and now they will have the help and guidance of Nykaa along with their resources, Earth Rhythm can use this to their advantage to evolve expand the business and reach new heights.

Recently, Nykaa acquired a much larger than majority stake in a Delhi-based company called Nudge Wellness for just over three and a half crores. This is a company that focuses on health and nutrition and produces dietary supplements as well as a whole range of other related products.

Nykaa’s acquisition doesn’t stop there as they bought a small stake in KICA in a deal worth just over four and a half crores. The company produces and sells sports leisure wear.

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