MAM
Bates CHI & Partners strengthens Bangalore ops with two news hires
MUMBAI: Bates CHI & Partners, a joint venture between Bates and CHI & Partners formed this month, has strengthened its Bangalore operations by roping in two creative directors, Mukund Sharma and Devesh Desai.
Mukund and Devesh will spearhead the creative teams of Bangalore as executive creative director and senior creative director respectively and will focus on creating and strategizing innovative campaigns reflecting the ‘changengage’ philosophy.
Both will report to Sagar Mahabaleshwarkar, the national creative director of Bates India.
CHI & Partners GM and Bangalore Head K Vasantha commented, “Our Bangalore office has been one of the most strongest performing branches for the agency. We are growing at a rapid pace, gaining good traction overall on the business as well as the creative front. Mukund and Devesh, are both young, energetic and raring to go with fresh ideas, and I am excited to welcome them onboard as a part of the process to strengthen the Bangalore team at bates CHI & Partners.”
Mukund Sharma has close to two decades of experience, including stints at JWT and Ogilvy. He joins Bates from Rediffusion Y&R, where he was creative head of the Bangalore office. At Rediffusion, he was associated with the launch of Arrow New York, Signature and Reliance Jewels, among others. He has worked on a diverse mix of categories including beer (Kingfisher, Foster’s), apparel (Levi’s, Van Heusen, Arrow) and IT (IBM).
Devesh has had 20 years of experience in advertising stints at SSCB Lintas, Contract advertising, Everest Brand solutions, etc and is most known for his contribution to Anti-smoking poster that saw nominations at Cannes in 2001.
Commenting on the new hires, Bates CHI & Partners India CEO Sanjay Thapar said, “Bates CHI & Partners in India continues to grow at a good pace with some new appointments, new partnerships and client wins. Mukund and Devesh‘s appointment is a key step in strengthening our commitment to deliver big and bold creative ideas that solve a client/brand‘s business problems. Bangalore is an important market for us and given their expertise and well-proven track record, I am confident that both Mukund and Devesh will help take our work and relationships to the next level of creativity.”
Brands
Nykaa eyes majority stake in Deepika Padukone’s 82°E brand
Deal could help scale premium label as Nykaa sharpens its beauty play
MUMBAI: Nykaa is in advanced discussions to acquire a majority stake in 82°E, the premium skincare label founded by Deepika Padukone, according to media reports.
The proposed deal signals Nykaa’s intent to deepen its House of Nykaa portfolio while giving 82°E the scale it has struggled to achieve independently. Padukone is expected to retain a minority stake if the transaction goes through.
For Nykaa, the play is both strategic and timely. With a customer base of over 42 million, the company is betting on its strong distribution, logistics, and repeat purchase ecosystem to revive the brand’s momentum. The two sides already share a working relationship, with Padukone serving as Nykaa’s global brand ambassador since September 2025.
Launched in late 2022, 82°E entered the market with a premium positioning but has faced headwinds. The brand reported revenue of Rs 14.7 crore in FY25, down 30 per cent year on year, alongside losses of Rs 12.26 crore. Industry observers have pointed to steep pricing, a somewhat diffused brand identity, and intense competition from digital-first labels as key challenges.
The potential acquisition also reflects a broader shift in India’s beauty and lifestyle space, where celebrity-led brands are increasingly partnering with larger corporates to unlock scale. Alia Bhatt’s Ed-a-Mamma, for instance, sold a majority stake to Reliance Retail, while Katrina Kaif’s Kay Beauty has emerged as a standout success within Nykaa’s portfolio, clocking Rs 132.4 crore in FY25 revenue.
Nykaa itself has been on a strong growth trajectory. Its parent, FSN E-Commerce Ventures, reported a 156 per cent jump in net profit to Rs 68 crore in the December 2025 quarter, with revenue reaching Rs 2,873 crore.
Nykaa has been steadily building its portfolio through acquisitions such as Dot & Key, Earth Rhythm and Nudge Wellness, signalling a clear push to own and scale homegrown brands.
If the 82°E deal materialises, it could mark a fresh chapter for the label, blending celebrity appeal with corporate muscle. For Nykaa, it is another calculated step in staying ahead in an increasingly crowded beauty aisle.
