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Nykaa has acquired a majority stake in homegrown skincare brand Dot & Key, the first direct-to-consumer (D2C) beauty brand acquired by the IPO-bound beauty and fashion e-commerce platform. This is the first D2C (direct-to-consumer) beauty brand acquired by Nykaa and following this investment by Nykaa, Dot & Key will join Nykaa's stable of owned brands, Nykaa said in a statement on Friday. While the company did not disclose the financial details, Nykaa's red herring prospectus (RHP) shows it purchased 3,35,000 equity shares from the existing shareholders of Dot & Key for about Rs 46.9 crore and further subscribed to 3,57,143 equity shares for a consideration of about Rs 50 crore. "On September 28, 2021, our company acquired 51 per cent of the outstanding equity shares of Dot & Key Wellness Private Ltd (Dot & Key) through the subscription and purchase of equity shares. "Following this investment, Dot & Key became one of our owned brands and this investment will ..
The round was led by Sequoia Capital India, with participation from Unilever Ventures, the venture capital arm of British multinational consumer goods company.
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