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Nykaa, one of India's leading beauty and fashion e-commerce platforms, today announced the acquisition of the Indian skincare brand Dot & Key. This is the first D2C (direct to consumer) beauty brand acquired by the platform and following this investment by the brand, Dot & Key will join Nykaa's stable of owned brands.

Founded by Kolkata-based Suyash Saraf and Anisha Saraf, Dot & Key, is a new age brand focused on providing solutions to skincare concerns. It offers premium skincare products such as serums, face masks, toners and cleansers. The brand has recently expanded into nutraceuticals under the brand 'IKWI', whose products are dermatologically tested and cruelty-free. Ernst & Young LLP was the exclusive advisor on the deal.

Commenting on the strategic development, Falguni Nayar, Founder and CEO, Nykaa, said, "We are excited to bring Dot & Key into the family in time to serve the demand in high-quality skincare by Indian consumers. Their product range presents an exciting opportunity for us as it allows us to extend the brand's reach to a larger landscape of consumers and enter the nutraceutical space as well. It is a consumer-centric brand with a growing base of consumers and a range of skincare solutions."

"We created a niche brand with Dot & Key, focused on making products based on consumer needs. Our passion to differentiate ourselves has inspired us to take an unconventional angle to skincare. Nykaa's position in the beautiful landscape in India and its resources will allow Dot & Key to grow further as a brand and scale to the next level," said Suyash Saraf, Co-Founder, Dot & Key.