MUMBAI: Falguni Nayar-led Nykaa on Friday said it has entered into an agreement to acquire 18.51 per cent stake in science-focused beauty brand Earth Rhythm for Rs 41.65 crore.
With an active focus on research-based and results-oriented products, Earth Rhythm has earned its credentials as a sustainable and inclusive brand amongst Indian beauty consumers.
Nykaa’s investment in Earth Rhythm reinforces the potential of the brand and addresses a growing market for products that are committed to efficacy as well as the planet, Nykaa said in a statement.
Earth Rhythm, formerly known as Soapworks India, was launched in 2015, in a humble home-based set-up by Harini Sivakumar.
An erstwhile banker, Harini turned to entrepreneurship in her quest to find the safest skincare products for her son. In the initial months of founding her own skincare line, she focused solely on studying skin formulations along with her father, who shares her passion and keen attention to clean skin and hair care.