Nykaa Ups Stake in Dot & Key Wellness to 90% in Major Investment Move

FSN E-Commerce Ventures, which owns Nykaa, has increased its stake in Dot & Key Wellness to 90% by acquiring an additional 39% for Rs 265.3 crore. The company previously held 51% of Dot & Key. This move reinforces FSN's strong position in the beauty and wellness sectors and adds to its recent investment in Earth Rhythm.

FSN E-Commerce Ventures, the owner of beauty and fashion platform Nykaa, announced on Tuesday a significant increase in its stake in Dot & Key Wellness. The company has acquired an additional 39% stake, bringing its total to 90%, in a deal valued at Rs 265.3 crore.

Previously, FSN E-Commerce held a 51% stake in Dot & Key. With the new acquisition, the company will now own 5,29,286 equity shares of Dot & Key from its promoters and existing shareholders, as per the regulatory filing.

Dot & Key, which was incorporated on March 16, 2020, specializes in pharmaceuticals, health care, skincare, and beauty products. In addition, FSN E-Commerce has also increased its ownership in Earth Rhythm, a personal care brand offering sustainable beauty products, for Rs 44.5 crore.

(With inputs from agencies.)