FSN E-Commerce Ventures, the parent of beauty retailer Nykaa, said in a stock exchange filing on September 5 that it had completed the acquisition of an additional 24.2% stake in Earth Rhythm, a beauty and personal care brand founded by Harini Sivakumar, for up to 94 million rupees (US$995,000).

Nykaa said it had executed the transaction documents and that the additional equity shares had been credited to its demat account.

Nykaa first invested in Earth Rhythm in 2022, acquiring an 18.5% stake for 416.5 million rupees (US$4.4 million) in an US$8 million series A funding round.

In August 2024, it increased its investment through a mix of primary and secondary transactions worth up to 445 million rupees (US$4.7 million), making Earth Rhythm a majority-owned subsidiary.

Earth Rhythm describes itself as a clean beauty brand.

🔗 Source: YourStory

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