The Indian beauty conglomerate Nykaa has acquired a majority stake in Earth Rhythm, a homegrown brand specializing in clean beauty and personal care products.WHO: Founded in 2019 by Harini Sivakumar, Sivakumar Varadarajan, and Arun Kumar, Earth Rhythm has emerged as a digital-first brand specializing in organic, vegan, and cruelty-free products. Its portfolio spans over 250 SKUs, including skincare, haircare, makeup, and lip care products. 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.WHY: The deal will enable Earth Rhythm to tap into greater growth potential across different categories, leveraging Nykaa's strength in innovation, marketing, and omnichannel distribution. This acquisition underscores Nykaa's strategy to strengthen its owned brand portfolio, which includes notable brands like Dot & Key, Pipa Bella, and Kica.IN THEIR OWN WORDS: Adwaita Nayar, co-founder of Nykaa and CEO of Nykaa Fashion and Beauty Brands, said, “Earth Rhythm is an exciting new addition to our owned brands portfolio, providing a chance to deepen our presence in the clean beauty sector, which holds significant long-term promise.