Nykaa has announced that it will boost its majority stake in Dot & Key from 51% to 90% by acquiring an additional 39% stake for Rs. 265 Crores. Suyash and Anisha Saraf, the founders of Dot & Key, will remain at the helm of the company and retain an ownership stake despite Nykaa’s increased investment.
Nykaa’s enhanced stake in Dot & Key underscores the brand’s strong performance, long-term potential, and its crucial role in Nykaa’s expanding portfolio of owned brands. Dot & Key, known for its fruit-forward skincare products, emphasizes high efficacy with clinically tested and certified safe items.
The brand boasts over 75 unique formulations that blend natural ingredients with scientific innovation and has catered to more than 5 million Indian customers. Nykaa initially invested in Dot & Key in 2021. Since then, the brand has experienced substantial growth and achieved profitability in early 2023.
As of Q1FY25, Dot & Key has an annualized GMV run rate exceeding 750 crores, marking it as one of the standout success stories in Indian beauty over the past decade. The brand’s impressive performance surpasses industry growth averages, with high rankings across various marketplace platforms reflecting its rapid ascent.