MAM
Economic Times’ Sanjay Sindhwani is new digital CEO of Indian Express
MUMBAI: Indian Express Online Media Services, the digital arm of The Indian Express Group, has appointed Sanjay Sindhwani as its CEO. Sindhwani comes from The Economic Times, where he was VP-digital products and business head. He will report to group CEO George Varghese.
He replaces Durga Raghunath who had resigned last December.
The Indian Express Group executive editor Anant Goenka welcomed Sindhwani saying that he has known Sindhwani for close to three years and has also learned from him. In an email to the employees, Goenka wrote, “Sanjay joins us at the beginning of a year when public trust in the news media has hit an all-time low and when recognized news media brands are often being baited and are getting caught picking political sides.”
Sindhwani has spent 24 of his 25-year career in the Times Group, which he had joined after brief stints at Bradma of India and Usha India. He joined Bennett & Coleman as an investment analyst in 1994. In 1999 he became editor, product and brand head at Times Internet. Sindhwani is an electronics engineer from Nagpur University and did his MBA in finance from the Institute of Management Studies.
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.
