Nykaa is acquiring a majority stake in Earth Rhythm, an Indian clean beauty brand, after leading the brand's Series A funding round in 2022.WHO: Earth Rhythm, formerly Soapworks India, was launched in 2015 by banker and cosmetic chemist Harini Sivakumar. The brand offers clinically effective beauty and personal care products that are safe for people and the planet with over 250 stock-keeping units across six categories.Nykaa founder and CEO Falguni Nayar, a former Managing Director at Kotak Investment Banking, founded Nykaa as an e-commerce platform for beauty and wellness products in 2012. The Mumbai-headquartered company launched offline operations in 2015. Nykaa's IPO in November 2021 raised 53.5 billion rupees ($722 million) through the sale. The business has become an omnichannel beauty destination with 72 Luxe and On-Trend and Kiosk Stores and an assortment of 2,400+ brands across makeup, skincare, haircare, bath and body, fragrance, grooming appliances, personal care, and health and wellness categories. IN THEIR OWN WORDS: Adwaita Nayar, co-founder, Nykaa, CEO, Nykaa Fashion and Beauty Brands, said, “Earth Rhythm represents an exciting addition to our owned brands portfolio, and it presents an opportunity to expand our play in the clean beautyspace, a category with immense long-term potential. The brand’s truly unique formulations and commitment to sustainability across the supply chain—from ingredients to packaging to processes—have struck a chord with its loyal consumer base. We look forward to expanding the reach and accessibility of the brand, ramping up growth by leveraging operational synergies with the Nykaa ecosystem.