Dot & Key Wellness (Majority Controlling Stake)
2021
$13M
Why
Acquired a majority controlling stake in Kolkata-based direct-to-consumer clean skincare brand Dot & Key to expand Nykaa's proprietary House of Brands into fruit-forward, dermatologically active facial care.
Impact
Proved to be a blockbuster acquisition: Nykaa scaled Dot & Key's annualized revenue run-rate more than tenfold within 30 months, transforming it into a ₹500+ crore brand with positive EBITDA margins.
Outcome
Solidified Nykaa's dominance in high-margin private label skincare alongside Nykaa Naturals.