FSN E-Commerce Ventures, which operates Nykaa, confirmed it is in talks to acquire a stake in 82°E, the skincare brand launched by actress Deepika Padukone in 2022. Nykaa stated that it continuously evaluates strategic opportunities for growth and will make necessary disclosures as discussions progress. 82°E has struggled to gain traction in a competitive market, reporting a 30% year-on-year revenue decline to ₹14.7 crore in FY25, alongside a loss of ₹12.26 crore. Analysts suggest that many standalone celebrity-owned brands in India fail due to poor strategic positioning and high pricing. Nykaa, which has a cumulative beauty customer base of 42 million, aims to leverage its market leadership to revitalize 82°E if the acquisition proceeds. The Indian beauty and personal care market is rapidly expanding, expected to reach $34 billion by 2028, driven by increasing consumer interest and investment in the sector.