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Nykaa, a company involved in the beauty and fashion business, is planning to acquire a majority stake in the skincare brand 82°E, which is owned by actress Deepika Padukone.
According to a source, Nykaa, owned by FSN E-commerce Ventures, is planning to strengthen its portfolio by acquiring the brand to keep up with increasing competition. As part of this, the company has reportedly planned to buy a majority share in 82°E.
It is noteworthy that in February of last year, Nykaa announced the signing of Deepika Padukone as a brand ambassador. Deepika Padukone launched 82°E in 2022 as a “premium skincare label.” However, due to its inability to keep pace with rising competition, the company’s revenue for the 2025 financial year decreased by 30%, falling to 14.7 crore rupees.
Nykaa is looking to buy a majority stake in Deepika Padukone’s brand, 82°E. To expand Nykaa’s product portfolio and remain competitive in the beauty market.
Despite being a premium label launched in 2022, 82°E has seen a significant revenue drop (30%) recently, which likely prompted this strategic move.
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