Nykaa partners with Onesto Labs to create Nudge Wellness - an entry into the nutraceutical space

Nykaa, India's leading beauty, wellness, and lifestyle destination today announced its partnership with homegrown, D2C brand incubator, Onesto Labs Private Limited ("Onesto Labs") to create a new category of nutraceuticals and wellness products under Nudge Wellness Private Limited. This partnership with Onesto Labs is one among a slew of Nykaa's recent partnerships with homegrown D2C brands, aimed at bolstering the early-stage beauty and lifestyle ecosystem and building the next generation of brands specializing in sustainable and inclusive products.

Over the last few years and further accelerated by the pandemic, 'beauty-from-within' which focuses on clean and sustainable products are gaining ground in the beauty and personal care market. Nykaa, which has long believed in staying steps ahead of consumer trends, aims to become the first mover in the nutraceuticals category in India. Onesto Labs, founded by Roh it Chawla, Sifat Khurana, and Vimal Bhola in 2018, has the advantage of formulating clutter-breaking, science-backed brands such as Chemist at Play, Bare Anatomy, and SunScoop SPF to ingredient-conscious consumers.

Anchit Nayar, CEO, E-commerce Beauty, Nykaa said, "This partnership with Onesto Labs is one-of-itskind because we are now entering the 'edible beauty' category as we reimagine what clean and green beauty and wellness could look like in the coming years. Consumers today are getting progressively conscious about the quality of ingredients in their beauty products and their efficacy. Onesto Labs demonstrates superior attention to choosing the right ingredients through R&D and technology that make products sustainable for long-term usage as well as for the planet. Further, in our spirit of fostering and mentoring early-stage D2C start-ups, the partnership with Onesto Labs is expected to disrupt a constantly evolving beauty market in India."

Rohit Chawla, Founder, Onesto Labs said, "There has been a visible and conscious shift in consumer mindsets, with wellness taking centre stage, especially post-pandemic, towards health solutions that offer long-term payoffs. Our partnership with Nykaa comes at an opportune juncture of growing interest and consumption in nutraceuticals. The combined advantages of Nykaa's experience in creating meaningful brands and our passion for science-forward beauty solutions will translate into Nudge Wellness. We are excited about the potential of this category, especially as we explore it with Nykaa's support and vision."

Shares of FSN E-Commerce Ventures Ltd was last trading in BSE at Rs. 1820.15 as compared to the previous close of Rs. 1795.05. The total number of shares traded during the day was 13434 in over 1550 trades.

The stock hit an intraday high of Rs. 1869.55 and intraday low of 1814.15. The net turnover during the day was Rs. 24725750.00.

Source : Equity Bulls

Keywords

FSNECommerceVentures Nykaa Partnership D2CBrandIncubator OnestoLabs Nutraceuticals Wellness