Nykaa Acquires D2C Skincare Brand Dot & KeyFollowing the deal, Dot & Key will be included in the beauty platform's stable of owned brands

Nykaa, a beauty and fashion e-commerce platform, on Friday, announced the acquisition of the Indian skincare brand Dot & Key. This is the first direct-to-consumer (D2C) beauty brand acquired by Nykaa and following this investment by Nykaa, Dot & Key will join Nykaa's stable of owned brands.

"We are excited to bring Dot & Key into the Nykaa family in time to serve the demand in high-quality skincare by Indian consumers. Dot & Key's product range presents an exciting opportunity for Nykaa as it allows us to extend the brand's reach to a larger landscape of consumers and enter the nutraceutical space as well. Dot & Key is a consumer-centric brand with a growing base of consumers and a range of skincare solutions," said Falguni Nayar, founder, and chief executive officer, Nykaa.

Founded by Kolkata-based Suyash Saraf and Anisha Saraf, Dot & Key has recently expanded into nutraceuticals under the brand "IKWI', whose products are dermatologically tested and cruelty-free. Ernst & Young LLP was the exclusive advisor to Dot & Key on the deal.

"We created a niche brand with Dot & Key, focused on making products based on consumer needs. Our passion to differentiate ourselves has inspired us to take an unconventional angle to skincare. Nykaa's position in the beauty landscape in India and its resources will allow Dot & Key to growing further as a brand and scale to the next level," added Suyash Saraf, co-founder, Dot & Key.