Nykaa recently announced its acquisition of the skin care brand Dot & Key. The acquisition comes just a few days before Nykaa’s initial public offering. October 28th will mark the beginning of Nykaa’s IPO, which will go on till the 1st of Novemebr. The company intends to raise close to Rs.5200 crore through the IPO. The announcement concerning the acquisition did not however indicate the amount spend for the acquisition. Being the very first D2C beauty brand acquired by Nykaa, Dot & Key will soon join the chain of the other Nykaa owbed brands. Dot & Key has made quite a name for itself as a homegrown brand.
The What and How
Dot & Key was founded by Suyash Saraf and Anisha Saraf, both based in Kolkata. The primary focus of the brand is to address the multitude of skin concerns through cruelty free and sustainable methods. It offers a wide range of skin care products like serums, toners, face masks and many more. The brand enjoys ample popularity among the users on account of its reliability and its label as a homegrown brand. Recent expansiom of the brand into neutraceuticals under the brand name “IKWI” also added to its points of intrigue, underscoring its products that are cruelty free, and dermatologically tested.
The acquisition will be a significant step to progress for Nykaa, which was founded by Falguni Nayyar in the year 2012. Ever since, Nykaa has made a solid place for itself as one of the major lifestyle focused consumer technologies platforms. In fact, over time it has become one among the leading brands in the country with immense popularity and a strong client base. Following its launch in the year 2012, Nykaa has also branched out into Nykaa Man and Nykaa Fashion. Nykaa offers multitude of brands, close to 4000. The recent acquisition will definitely accelrate its growth as a beauty giant.
The acquisition will be of immense help in blending together the unique features of the brand to the overall benefit of the company as a whole. With time, the demands for quality skin care has assumed new levels and brands like Nykaa has to put particular efforts towards fulfilling these. The acquisition will also help the beauty giant to explore new opportunities and extend the reach to a wider consumer base. Dot & Key’s wealth of consumers and the goodwill accumulated over time will be of great help in accomplishing this goal. According to Falguni Nayyar, Nykaa’s founder and CEO,
“We are excited to bring Dot & Key into the Nykaa family in time to serve the demand in high quality skincare by Indian consumers.”