India, 28th November 2024: Nykaa announced that it has completed the acquisition of a majority stake in Earth Rhythm, a leading homegrown clean beauty brand founded in 2019. Earth Rhythm has been built on the core pillars of Inclusivity, Efficacy and Sustainability with a range of beauty and personal care products that are certified organic, plant based and 99% Plastic free.
This additional investment affirms Nykaa’s commitment to the long-term opportunity presented by Earth Rhythm. With the completion of this investment, following the acquisition of a minority stake in 2022, Nykaa has acquired a significant majority stake in Earth Rhythm through a combination of primary and secondary transactions.
Earth Rhythm has built a strong brand presence through clean, clinically effective beauty and personal care products, developed with a commitment to transparency, sustainability, and efficacy. Its bestsellers include the Lip Cheek Tint, a versatile multi-use product designed to seamlessly blend as a lip color and blush for effortless application; Shampoo Bars, which are as effective as traditional liquid shampoos while contributing to a reduced carbon footprint by eliminating plastic packaging and cutting down on transportation emissions; Sunsticks, offering mess-free, portable, and quick application, perfect for reapplication on the go; and Hydrating Sunscreens, formulated to provide deep hydration along with broad-spectrum sun protection.
Earth Rhythm has seen immense developments in a short span of time, displaying strong momentum in key parameters of sales growth, customer acquisition, category depth, innovation and brand awareness. A key differentiator is their commitment to developing unique, in-house formulations, which set them apart in the market by offering distinctive products tailored to evolving consumer needs. The brand offers a range of over 250 SKUs across 6 categories.
Earth Rhythm proudly owns its R&D and manufacturing capabilities, leading to in-house quality control through testing and stability studies, allowing the brand to ensure efficacy of formulations and drive innovation to meet customer needs.
Nykaa, through its robust ecosystem and expertise, will help Earth Rhythm unlock further growth potential across categories by leveraging innovation, marketing, and omnichannel distribution capabilities while preserving the brand’s core values and distinct proposition.
Adwaita Nayar, Co-founder of Nykaa and CEO of Nykaa Fashion and Beauty Brands, had said post board approval, “Earth Rhythm represents an exciting addition to our owned brands portfolio, and it presents an opportunity to expand our play in the clean beauty space, a category with immense long-term potential. The brand’s truly unique formulations and commitment to sustainability across the supply chain – from ingredients to packaging to processes – have struck a chord with its loyal consumer base. We look forward to expanding the reach and accessibility of the brand, ramping up growth by leveraging operational synergies with the Nykaa ecosystem.”
Harini Sivakumar, Founder and CEO of Earth Rhythm, had also said, “I am thrilled beyond words that Earth Rhythm has received a powerful affirmation from Nykaa in our journey and the impact we’re making. Nykaa has a comprehensive and a strong distribution platform that can be leveraged by brands, allowing them to grow in a profitable manner. Nykaa’s 360-degree marketing across social media, influencer network and content allow brands to grow in an otherwise competitive market. With this deepened partnership, Earth Rhythm can continue to innovate and grow, bringing even more value to our existing customer base while expanding our reach. I’m incredibly excited for what lies ahead.”