<p>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.</p>.<p>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.</p>.<p><strong>Also read: <a href="www.deccanherald.com/business/business-news/nykaa-adani-wilmar-star-health-3-others-get-sebis-go-ahead-to-float-ipos-1041689.html" target="_blank">Nykaa, Adani Wilmar, Star Health, 3 others get Sebi's go-ahead to float IPOs</a></strong></p>.<p>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.</p>.<p>"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.</p>.<p>"Following this investment, Dot & Key became one of our owned brands and this investment will allow us to expand our skincare, personal care and nutraceuticals offerings," it added.</p>.<p>In tranche 2, a consideration of up to Rs 153 crore will be made to acquire up to 49 per cent stake of the promoters during FY2025 depending on performance and valuation, it said.</p>.<p>Dot & Key, which offers premium skincare products across serums, toners, cleansers and face masks, became a subsidiary of the company on September 28, 2021, the RHP added.</p>.<p>Founded by Kolkata-based Suyash Saraf and Anisha Saraf, Dot & Key has recently expanded into nutraceuticals under the brand 'IKWI'.</p>.<p>"We are excited to bring Dot & Key into the Nykaa family in time to serve the demand in high-quality skincare by Indian consumers.</p>.<p>"Dot & Key's product range presents an exciting opportunity for Nykaa as it allows us to extend the brand's reach to a larger landscape of consumers and enter the nutraceutical space as well," Nykaa founder and CEO Falguni Nayar said.</p>.<p>Dot & Key co-founder Suyash Saraf added that Nykaa's position in the beauty landscape in India and its resources will allow Dot & Key to grow further as a brand and scale to the next level.</p>.<p><strong>Check out latest DH videos here:</strong></p>
<p>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.</p>.<p>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.</p>.<p><strong>Also read: <a href="www.deccanherald.com/business/business-news/nykaa-adani-wilmar-star-health-3-others-get-sebis-go-ahead-to-float-ipos-1041689.html" target="_blank">Nykaa, Adani Wilmar, Star Health, 3 others get Sebi's go-ahead to float IPOs</a></strong></p>.<p>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.</p>.<p>"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.</p>.<p>"Following this investment, Dot & Key became one of our owned brands and this investment will allow us to expand our skincare, personal care and nutraceuticals offerings," it added.</p>.<p>In tranche 2, a consideration of up to Rs 153 crore will be made to acquire up to 49 per cent stake of the promoters during FY2025 depending on performance and valuation, it said.</p>.<p>Dot & Key, which offers premium skincare products across serums, toners, cleansers and face masks, became a subsidiary of the company on September 28, 2021, the RHP added.</p>.<p>Founded by Kolkata-based Suyash Saraf and Anisha Saraf, Dot & Key has recently expanded into nutraceuticals under the brand 'IKWI'.</p>.<p>"We are excited to bring Dot & Key into the Nykaa family in time to serve the demand in high-quality skincare by Indian consumers.</p>.<p>"Dot & Key's product range presents an exciting opportunity for Nykaa as it allows us to extend the brand's reach to a larger landscape of consumers and enter the nutraceutical space as well," Nykaa founder and CEO Falguni Nayar said.</p>.<p>Dot & Key co-founder Suyash Saraf added that Nykaa's position in the beauty landscape in India and its resources will allow Dot & Key to grow further as a brand and scale to the next level.</p>.<p><strong>Check out latest DH videos here:</strong></p>