Stake sale · Commerce & Consumer Brands

Nykaa parent buys additional stake in Earth Rhythm

By Startup Enthusiast · 7 September 2026

What they do

Earth Rhythm, founded in 2015 and formerly known as Soapworks India, sells organic skincare, haircare, and makeup online

Nykaa parent FSN E-Commerce Ventures completed the acquisition of an additional 24.17% stake for up to Rs 9.4 crore

The transaction follows Nykaa's strategy of increasing stakes in emerging personal care brands

FSN E-Commerce Ventures finalized the transfer of supplementary shares in personal care label Earth Rhythm.
The newly purchased equity was delivered into the buyer's demat account (an online repository storing securities electronically) on 5 September 2026.
The purchase stemmed from exercising a formal call option (a binding right to acquire equity at an established price) covering 20,864 shares.
Directors had earlier cleared a total cash payout capping out at Rs 9.4 crore to complete this share purchase.
Regulatory updates regarding the transaction did not state Nykaa's ultimate total percentage ownership in the business.

Nykaa has systematically acquired emerging cosmetics and wellness brands to strengthen its standing in digital retail.
Earth Rhythm turned into a subsidiary (a business majority-owned by another corporation) of Nykaa in late 2024.
In August 2026, the retail group also agreed to buy a controlling 51% stake in Mumbai skincare firm Aminu for Rs 32 crore.

Earth Rhythm functions as a digital-first enterprise selling organic beauty lines spanning skincare, haircare, and cosmetics.
Its formulations are distributed as science-backed, environmentally safe, and gentle for personal use.
Sales are generated directly through the company's proprietary web portal alongside third-party digital marketplaces.
Packaging carries certifications including Plastic Neutral status alongside PETA-backed cruelty-free verification.
The Gurugram-headquartered firm originated in 2015 under its former identity Soapworks India.
Annual business revenue reached Rs 23.75 crore across the 2025-26 operational year.

FSN E-Commerce Ventures (buyer) — Parent corporate entity operating the retail brand Nykaa.