Deal may bolster premium skincare play as Deepika Padukone’s brand seeks scale
Beauty and fashion retailer Nykaa is in discussions to acquire a majority stake in 82°E, the premium skincare label co-founded by Deepika Padukone, as it looks to strengthen its portfolio amid intensifying competition in India’s beauty market.
The potential transaction, still under negotiation, aligns with Nykaa’s strategy to expand its “House of Nykaa” portfolio by backing and scaling high-potential brands within its ecosystem.
In a regulatory clarification, Nykaa said it continues to evaluate strategic opportunities and remains in discussions with relevant parties, without confirming any definitive deal.
Scaling a premium but challenged brand
Launched in 2022 as a direct-to-consumer (D2C) skincare venture, 82°E has struggled to gain sustained traction in a crowded digital-first beauty market. The brand reported a 30 per cent year-on-year decline in revenue to Rs 14.7 crore in FY25, along with losses of Rs 12.26 crore.
Industry observers attribute the challenges to premium pricing, relatively limited product range and increasing competition from emerging D2C skincare labels.
A potential partnership with Nykaa could provide 82°E with access to a significantly wider distribution network, operational expertise and a large, engaged customer base, helping reposition and scale the brand.
Strategic fit for Nykaa
For Nykaa, the deal would reinforce its presence in the premium skincare segment while leveraging celebrity-backed branding to deepen consumer engagement. The company has previously demonstrated its ability to scale partner brands through its omnichannel network spanning ecommerce and physical retail.
The retailer currently serves over 42 million customers, providing a strong platform to drive visibility, repeat purchases and brand recall for newer labels.
Broader industry trend
The development also reflects a wider trend of celebrity-led beauty brands seeking strategic partnerships with larger platforms to achieve scale and profitability. While celebrity influence can drive initial traction, long-term growth increasingly depends on distribution strength, pricing strategy and operational execution.
If finalised, the transaction could mark a significant consolidation move in India’s fast-evolving beauty and personal care market, blending star power with established retail infrastructure.
