Beauty centric online marketplace Nykaa has acquired Kolkata-based homegrown skincare brand Dot & Key just days before the launch of its initial public offering (IPO).
Nykaa, however, did not divulge the details of the transaction.
Founded by Suyash Saraf and Anisha Saraf, Dot & Key offers premium skincare products such as serums, face masks, toners and cleansers. The brand has recently expanded into nutraceuticals under the brand ‘IKWI’.
The Falguni Nayar-led company has also expanded into Nykaa Fashion and Nykaa Man. Nykaa offers 4,078 brands and over 3.1 million product stock keeping units.
The development comes at a time when Nykaa is gearing up for public listing. The company had recently revised its draft red herring prospectus (DRHP) to increase the size of the fresh offer by Rs 105 crore.
It’s worth mentioning that Nykaa is one of the few startups which is profitable ahead of its IPO.