MAM
Per Pedersen has been appointed chairman of the Grey Global Creative Council
MUMBAI: After being with Grey for 25 years, Per Pedersen has been appointed chairman of the Grey Global Creative Council.
Pedersen is the co-founder of Uncle Grey in Denmark and served as chief creative officer of Grey Germany. Since 2010, he has been based in New York as deputy worldwide chief creative officer, prior to that he has served as global creative leader on Febreze.
Pedersen has helped oversee Grey’s senior creative leaders to identify creative opportunities, crafting smarter award submissions and ranking the quality of Grey’s work. In this role, Pedersen becomes the leading global creative evangelist, strengthening creative culture and the quality of work across the entire network.
He played an important role in achieving Grey’s best year ever at Cannes in 2015 with a watershed performance that brought home 113 Lions from 18 countries including a record 4 Grand Prix. He has led the award-winning “Breathe Happy” blindfold campaign and the Lion avalanche that made Grey New York the 2015 Cannes North American Network of the Year.
With 300 awards, including 43 Cannes Lions, Pedersen ranks among the most awarded creative people in the industry and has served on most award show juries from Cannes to the Clios.
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.
