Could Nykaa’s deal with Deepika Padukone’s 82°E change India’s skincare market?

Mumabi: Nykaa is reportedly in discussions to acquire a majority stake in actress Deepika Padukone’s premium skincare brand 82°E, in a move that could strengthen its presence in India’s competitive beauty and personal care market.

The talks are said to be ongoing, and no final agreement has been announced yet.

Deal discussions and possible structure

According to reports, the proposed transaction would see Nykaa taking operational control of 82°E, while Deepika Padukone may retain a minority stake in the brand. The discussions are aligned with Nykaa’s broader strategy of expanding its portfolio under its “House of Nykaa” ecosystem.

The two parties already share a professional relationship, with Padukone serving as Nykaa’s global brand ambassador since September 2025.

Also read | Wipro bags $1B deal with Olam Group, acquires Mindsprint for $375M

About 82°E and its market performance

82°E was launched in 2022 as a direct-to-consumer premium skincare label. However, the brand has faced challenges in scaling within India’s crowded beauty market.

Financial data indicates that 82°E reported revenue of ₹14.7 crore in FY25, compared to ₹21.2 crore in FY24, reflecting a decline in operations. At the same time, losses narrowed to ₹12.3 crore from ₹23.5 crore, partly due to reduced marketing spending.

The brand was last valued at around ₹90 crore, according to available reports, highlighting its position as a relatively small but premium-focused player in the segment.

Nykaa’s expansion strategy

Nykaa, operated by FSN E-Commerce Ventures and founded by Falguni Nayar, has been actively building its portfolio of owned and acquired beauty brands. Its existing labels include Dot & Key, Kay Beauty, and Nykaa Cosmetics.

The potential acquisition of 82°E fits into Nykaa’s strategy of leveraging its distribution network, customer base, and marketing capabilities to scale brands within its ecosystem.

India’s growing beauty market

The development comes at a time when India’s beauty and personal care industry is witnessing strong growth. The market, estimated at around $21 billion, is projected to expand significantly in the coming years, driven by increasing demand for premium and specialised skincare products.

Premium beauty, in particular, is expected to be a key growth driver, with forecasts suggesting substantial expansion by 2028. This has made the segment attractive for both established players and new entrants seeking to capture evolving consumer preferences.

While the talks between Nykaa and 82°E are still in progress, any final deal would likely reshape the positioning of the celebrity-backed skincare brand by integrating it into a larger retail and distribution ecosystem. For Nykaa, the acquisition would further strengthen its portfolio in the premium beauty segment amid rising competition in the industry.