Stock Report

Nykaa partners with a strong homegrown D2C brand Earth Rhythm through a minority stake

Posted On : 2022-04-22 15:36:12( TIMEZONE : IST )

Nykaa partners with a strong homegrown D2C brand Earth Rhythm through a minority stake

Nykaa, India's leading beauty, wellness, and lifestyle destination today announced its partnership with homegrown, science-focused beauty brand Earth Rhythm. 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.

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. Over the years, Harini has enriched Earth Rhythm with her expertise as a Cosmetic Scientist and has continued strengthening the brand's promise of clinically effective and high-quality beauty products. It is this commitment that is compelling to Nykaa and brings the two brands together in their effort to make a discernible difference in the market and for consumers.

Anchit Nayar, CEO, E-commerce Beauty, Nykaa said, "For Nykaa, brands that originate within the ethos of transparency and constant innovation towards efficacy and sustainability hold great value. Harini's tenacious story of why she founded Earth Rhythm reflects her focus on creating a wide range of beauty products that the discerning Indian consumer is looking for. We are proud to partner with a promising early-stage start-up and help them to achieve their potential by leveraging Nykaa's expertise and ecosystem."

Harini Sivakumar, Founder and CEO Earth Rhythm said, "We are thrilled to have Nykaa as an investor in Earth Rhythm. Their investment is a clear endorsement of our efforts to build a clinically effective and technology-driven skincare and haircare brand. Through this investment, our commitment to our customers and the planet is only going to get stronger."

Shares of FSN E-Commerce Ventures Ltd was last trading in BSE at Rs. 1820.15 as compared to the previous close of Rs. 1795.05. The total number of shares traded during the day was 13434 in over 1550 trades.

The stock hit an intraday high of Rs. 1869.55 and intraday low of 1814.15. The net turnover during the day was Rs. 24725750.00.

Source : Equity Bulls


FSNECommerceVentures Nykaa Partnership EarthRhythm