Nykaa, owned by Falguni Nayar's FSN E-Commerce Ventures, is in discussions to acquire a majority stake in 82°E, a premium skincare brand founded by actress Deepika Padukone. This potential acquisition is part of Nykaa's strategy to enhance its House of Nykaa portfolio in a competitive beauty market. Currently, 82°E has not met growth expectations, with its revenue declining to ₹14.7 crore (roughly $1.8 million USD) in FY25, a 30% drop from the previous year, alongside a loss of ₹12.26 crore (approximately $1.5 million USD). The brand's high pricing, averaging ₹2,500 (about $30 USD) for a 50-ml jar, and intense competition from digital-first brands have contributed to its struggles. In contrast, Nykaa has seen significant growth, reporting a 156% year-on-year increase in net profit to ₹68 crore (around $8.2 million USD) for the quarter ending December 31, 2025, driven by strong demand and margin expansion. The Indian beauty and personal care market is projected to reach $34 billion by 2028, making it the fastest-growing market globally.