This follows the beauty and fashion retailer buying an 18.51% stake in Earth Rhythm Pvt Ltd (ERPL) in 2022. With this, ERPL has become a subsidiary of Nykaa. To date, ERPL has raised $9.1 million and was last valued at $28.8 million in 2022. Nykaa, which has been raising its holdings in portfolio brands, acquired an additional 39% stake in skincare brand Dot & Key Wellness for Rs 265 crore.
