Nykaa raises stake in Dot & Key, to acquire Earth Rhythm for Rs 44.5 crore

FSN E-Commerce Ventures, the parent of beauty and fashion firm Nykaa, announced today that it is increasing its stake in Dot & Key, a cosmetic company, to 90 per cent from its current 51 per cent.

The company is paying Rs 256.3 crore for the transaction, according to regulatory filings. The acquisition is expected to be completed by September 30, 2024.

Dot & Key’s revenue for FY24 almost doubled to Rs 198.3 crore from Rs 57.7 crore in FY23.