Brands
Prateek Kathpal advanced to director – private capital ecosystem – Grant Thornton Bharat
MUMBAI: He has got a capital promotion. Grant Thornton Bharat LLP has elevated Prateek Kathpal as director of the private capital ecosystem. In this pivotal role, Prateek will lead initiatives related to private equity go-to-market planning, deals consulting, and all aspects of practice development, including deal structuring, investment banking, due diligence, valuations, and debt restructuring.
With a robust background in the financial sector, Prateek is an innovation enthusiast whose experience spans multi-sector corporate accelerator programs and advisory roles for startups on commercialisation and market entry strategies. The BSc in information technology also completed his post graduate degree in marketing, strategy & finance.
Prateek’s previous positions include director of private equity and deals at Grant Thornton, and strategy & practice development lead at Khaitan & Co, where he drove significant business engagements and client outreach. Additionally, he has a history of leading marketing and sales initiatives at Yes Bank and VCCircle.
Grant Thornton Bharat, part of Grant Thornton International Ltd., is one of India’s premier professional services firms, boasting a workforce of over 10,000 across 19 offices. The firm is dedicated to delivering assurance, consulting, tax, risk, and digital transformation services while prioritising client-centric solutions and positive ecosystem impact.
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.
