Indian beauty retailer Nykaa is in talks to acquire a majority stake in 82°E, a skincare brand owned by local actress Deepika Padukone.

Nykaa’s parent company, FSN E-Commerce Ventures, said in a filing with the Bombay Stock Exchange earlier this week that it was “in discussions with concerned parties” regarding the deal.

Padukone founded 82°E in 2022 and has positioned it as a premium skincare brand focusing on high-quality Indian ingredients. The name comes from the 82.30° East longitude that runs through India. 

The brand expanded into body care and men’s grooming in 2024. It reported a 30 per cent decline in revenue last year amid challenges related to its pricing strategy.

The acquisition is expected to further enhance Nykaa’s presence in the Indian skincare market. The company owns several in-house brands such as Nykaa Natural and Nykaa SkinRx and has acquired majority stakes in Earth Rhythm and Dot & Key.

Nykaa currently serves over 42 million customers across its beauty and fashion platforms and operates more than 276 physical stores nationwide.

Padukone, known for her roles in several Bollywood movies, was named as Nykaa’s global ambassador last September.