Beauty retail giant Nykaa is in talks to acquire a major stake in Deepika Padukone's skincare brand 82°E, a development its parent company confirmed following reports of the celebrity brand's significant financial downturn.

Facing a 30% year-on-year revenue decline to ₹14.7 crore and a net loss of ₹12.26 crore in fiscal year 2025, 82°E could gain a crucial lifeline through acquisition by Nykaa. For Nykaa, the deal would absorb a premium brand into its "House of Nykaa" portfolio, leveraging its vast distribution network to revitalize the struggling entity and strengthen its position in India's competitive beauty market.

What We Know So Far

  • FSN E-Commerce Ventures Ltd, Nykaa's parent company, confirmed in a stock exchange filing that it is in discussions with several parties, including Deepika Padukone’s skincare brand 82°E, as reported by The Economic Times.
  • The discussions reportedly concern a majority stake in the premium skincare brand, which was launched by the actress in late 2022.
  • According to regulatory filings, 82°E's direct-to-consumer revenue fell by 30% to ₹14.7 crore in FY25, a sharp drop from over ₹21 crore in the previous fiscal year.
  • The brand also posted a significant net loss of approximately ₹12.26 crore for FY25, highlighting its financial pressures, as detailed by exchange4media.
  • Nykaa has stated it "evaluates various strategic opportunities for growth and expansion on an ongoing basis" and will make official disclosures in compliance with applicable laws "as and when due."

Nykaa 82°E Acquisition Details

FSN E-Commerce Ventures formally acknowledged media reports, confirming its engagement with 82°E as part of its continuous evaluation of strategic growth opportunities. While discussions are in early stages with undisclosed financial terms and timeline, Nykaa committed to providing regulatory updates as talks progress.

While the final structure of the deal remains under negotiation, sources suggest it centers on a majority stake acquisition. This would grant Nykaa significant control over 82°E's operations, branding, and future direction. According to data from Tracxn cited by Storyboard18, 82°E's last reported valuation stood at Rs 90 crore. The same report notes that Deepika Padukone and actor Ranveer Singh collectively hold an approximate 15% stake in the company. Co-founder Jigar Shah, who holds a majority stake of around 56%, reportedly exited his full-time role with the brand last year, a development that may have factored into the current discussions.