Nykaa in Talks to Acquire Deepika Padukone’s 82°E

India’s largest beauty retailer Nykaa is in talks to acquire a majority stake in Deepika Padukone’s skincare brand 82°E, the company confirmed Monday in a filing with the Bombay Stock Exchange.

In the filing, Nykaa parent company FSN E-Commerce Ventures said that it “remains in discussions with concerned parties” regarding the acquisition.

Founded in 2022 by Indian actress Padukone, 82°E is a direct-to-consumer beauty brand that creates clean skincare with traditional Indian ingredients. Its hero product is the $25 Ashwagandha Bounce moisturiser, and in 2024 the brand expanded into body care and men’s grooming. But the brand has faced difficulties, including backlash from the outset about its price point, and reported a revenue decline of 30 percent year-over-year in 2025.

For Nykaa, the acquisition would further bolster its footing in the fast-growing, clean Indian skincare market. Over the past two years, the company has acquired majority stakes in personal care brand Earth Rhythm and science-backed actives label Dot & Key.

Known for her work in Bollywood films, Padukone was announced as Nykaa’s global ambassador in September 2025.

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