Beauty brand Nykaa Acquires Home-Grown Skincare Brand Dot & Key
Nykaa, India’s leading beauty and fashion ecommerce platform, today announced the acquisition of the Indian skincare brand Dot & Key. 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
Founded by Kolkata-based Suyash Saraf and Anisha Saraf, Dot & Key is a new age brand focused on providing solutions to skincare concerns. It offers premium skincare products such as serums, face masks, toners and cleansers. The brand 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.
Commenting on the strategic development, Falguni Nayar, Founder and CEO, Nykaa said, “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.”
“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 grow further as a brand and scale to the next level.” said Suyash Saraf, Co-Founder, Dot & Key.