Brands
Colgate-Palmolive India faces Rs 268 Cr tax demand, plans appeal
MUMBAI: Colgate-Palmolive (India) has found itself in a tax tussle, with the Income Tax Department raising a demand of Rs 267.64 crore for the financial year 2021–22. The maker of some of India’s most familiar bathroom staples, however, is keeping its smile firmly in place.
The company said it has received an assessment order along with a notice of demand from the tax authorities. The bulk of the claim stems from transfer pricing adjustments and the disallowance of certain expenses.
The order was received on December 24, with Christmas Day being a public holiday, prompting the formal disclosure on December 26.
Colgate-Palmolive (India) has made it clear that the matter is far from settled. The company plans to challenge the order before the Income Tax Appellate Tribunal and remains confident about its position.
More importantly for investors and consumers alike, the company says there is no impact on its financials, operations or day-to-day business as a result of the demand.
In short, while the taxman has taken a bite, Colgate insists its balance sheet and business remain squeaky clean.
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.
