“The potential deal hinges on Nykaa’s market leadership position, cumulative beauty customer base of 42 million, and ability to build on repeat orders and scale, to help turn around the flagging 82°E,” one of the executives said.

Notably, Nykaa and Padukone already share a strategic relationship. The platform appointed the actress as its global brand ambassador in September last year, where she led marquee campaigns such as Pink Friday Sale and Nykaaland. However, both Nykaa and 82°E did not respond to queries regarding the ongoing discussions.

Meanwhile, 82°E is expected to retain a minority stake if the deal materializes. However, the brand has struggled to meet growth expectations. Its premium pricing strategy, with products averaging ₹2,500 for 50-ml jars, coupled with unclear positioning and rising competition from digital-first skincare brands, has weighed on performance. Consequently, the direct-to-consumer venture, launched in late 2022, reported a 30% decline in revenue to ₹14.7 crore in FY25, while losses stood at ₹12.26 crore, according to regulatory filings.

On the other hand, Nykaa continues to aggressively expand its footprint and portfolio. The company competes with players such as Reliance Retail’s Tira, Sephora, and Shoppers’ Stop Beauty. In line with its House of Nykaa strategy, the retailer has strengthened its offerings through acquisitions of brands like Nudge Wellness, Dot & Key, and Earth Rhythm.

Furthermore, the company has delivered strong financial performance. It reported a 156% year-on-year jump in net profit to ₹68 crore for the quarter ended December 31, 2025. At the same time, consolidated revenue rose 27% to ₹2,873 crore, driven by robust demand and improved margins. Additionally, Nykaa expanded its offline presence by adding 11 new stores and entering four new cities during the quarter, taking its total store count to 276.

At an industry level, a joint report by Nykaa and Redseer highlighted that India is the world’s fastest-growing beauty and personal care market. The report projected the sector to reach $34 billion by 2028, up from $20 billion last year. Moreover, e-commerce continues to lead growth within the segment, supported by increased access to global premium brands, rising discretionary spending, and strong demand from tier 2 and tier 3 cities, alongside a younger consumer base.

Nykaa’s potential investment in 82°E signals a strategic push to consolidate its leadership in India’s rapidly expanding beauty market. While the deal could provide 82°E with the scale and distribution it needs to revive growth, it also reinforces Nykaa’s long-term vision of building a diversified and competitive in-house brand ecosystem.

According to the Edelman Trust Barometer 2024, nearly 81% of purchase decisions in India are influenced by perception, while digital platforms now impact close to 90% of urban consumer purchase journeys. Research from Kantar BrandZ further highlights that brands strong in meaning, difference, and salience deliver three times stronger brand power and greater pricing advantage, reinforcing the growing importance of trust-led brand building.

Against this backdrop, Team Marksmen Network will host the 6th Annual Edition of Most Trusted Brands of India 2026 on 13 March 2026 at Hotel Sahara Star, Mumbai. The platform will bring together senior brand leaders, marketing strategists, and industry thinkers to explore how organisations can build credibility, shape perception, and sustain consumer trust in an increasingly dynamic environment.

The evening will open with a Power Keynote by Dr. Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance, who will speak on “The Perception Advantage: Turning Meaning Into Market Leadership,” offering insights on how brands can translate emotional connection, cultural relevance, and consumer understanding into competitive advantage.

The event will also feature a panel discussion titled “Reputation, Relevance & Reinvention – The New Rules of Consumer Perception,” bringing together leading marketing leaders including Kapil Grover, CMO, Restaurant Brands Asia; Abhishek Kumar Srivastava, Vice President Marketing (CMO), Piramal Consumer Health; Deepak Oram, SVP – Growth Marketing & Martech, HDFC Bank; and Gaurangi Desai Mehra, Director – Marketing & Communications, APAR Industries. The discussion will be moderated by Amiya Swarup, Partner – Marketing Consulting, EY, and will explore how brands can navigate culture, community influence, and rising consumer expectations while maintaining authenticity.

A special address will be delivered by Shri Kripashankar Singh, Former Minister of State for Home Affairs, Maharashtra and Vice President of BJP, who will share perspectives on leadership, trust, and the evolving relationship between organisations and society.

A key highlight of the evening will be the felicitation of organisations recognised as the Most Trusted Brands of India 2026, celebrating companies that have demonstrated sustained commitment to credibility, consumer trust, and responsible brand leadership.

The platform is supported by Business Standard as the Media Partner and India Today as the Telecast Partner, ensuring strong national visibility and industry reach.

As consumer expectations continue to evolve and trust becomes the defining currency of brand success, Most Trusted Brands of India 2026 aims to bring together leaders who are shaping perception with clarity, credibility, and purpose, reinforcing trust as the ultimate measure of brand excellence in India’s rapidly expanding consumer economy.

The company will deploy the fresh capital toward accelerating product innovation and research, strengthening its talent pool, and expanding its distribution footprint across channels. Consequently, Moxie aims to sharpen its competitive edge in India’s fast-growing beauty and personal care market.

Founded in November 2023 by Nikita Khanna and Anmol Ahlawat, Moxie Beauty develops haircare products specifically designed for Indian hair textures and climatic conditions. Its portfolio includes shampoos, conditioners, leave-in treatments, and styling solutions that effectively address concerns such as dryness and frizz. As a result, the brand continues to resonate strongly with Indian consumers seeking targeted, high-performance haircare.

Notably, Moxie has crossed ₹100 crore in annual recurring revenue within two years of launch, underscoring its rapid scale and market traction. Moreover, the brand has quadrupled its monthly revenue over the past year since November 2023, driven by robust demand across leading online marketplaces. At present, ten Moxie products feature on bestseller lists across multiple categories on Nykaa and Amazon, highlighting sustained consumer trust and strong repeat purchases.

Commenting on the milestone, Nikita, co-founder of the company, said, “We started Moxie to create something that still didn’t exist—clean, salon-grade haircare that’s made specifically for Indian hair textures and weather, which are very unique. With this raise, we are excited to deepen our R&D capabilities and continue to innovate the next generation of high-performance hair care and styling products for our community.”

Anant Vidur Puri, Partner at Bessemer Venture Partners, said, “Our partnership with Moxie lies squarely on our consumer brands roadmap, where we believe that aspirational and discerning consumers will fuel the rise of iconic India-first brands. The team’s laser-sharp focus on innovation and formulation excellence is evident in the customer love they have. We wish them all the best for the journey ahead.”

Moxie Beauty’s Series A funding marks a significant step in its growth journey. The brand combines deep consumer insight, formulation-led innovation, and strong investor confidence to position itself strongly as it builds a scalable, India-first haircare powerhouse in an increasingly competitive D2C ecosystem.

The firm projected in its report titled “Click, Watch, Shop: The Indian Consumer Opportunity” that the next wave of value creation in India’s consumer internet sector will be five times greater than that of the past decade. It expects much of this growth to come from startups building in areas like quick commerce, direct-to-consumer (D2C) brands, and mobile-first content platforms.

“Because of confluence of different sets of events, like smartphone penetration, improvement in the overall income levels of the country and the fact that there is a lot of favourable policy developments, we feel that India is well poised to be a trillion-dollar economy on the tech and digital side in the coming years,” said Anant Vidur Puri, partner, Bessemer Venture Partners.

Bessemer Venture Partners identified quick commerce as a major trend transforming the online retail landscape, with platforms like Zepto, Blinkit, and Swiggy Instamart accelerating consumer adoption of rapid delivery services.

The report also pointed to the emergence of verticalised quick commerce startups such as Snabbit, Swish, and Slikk.

In the consumer brand space, the firm observed that direct-to-consumer (D2C) startups across categories like fashion, fitness, personal care, appliances, and food—including Blissclub, Snitch, Mokobara, The Whole Truth, and Minimalist—are meeting the rising demand for aspirational, high-quality products from India’s young, digitally savvy consumers.

Bessemer’s report also highlighted strong investor momentum in emerging sectors such as micro-transactions, pet care brands, mobile gaming, and content platforms designed for short attention spans.

It further noted that with artificial intelligence (AI) now integrated across consumer touchpoints, brands are using the technology to address key challenges at scale.

Since launching its India operations in 2006, Bessemer Venture Partners has backed over 80 startups in the country, including BigBasket, PharmEasy, Urban Company, and Livspace. Nine of its portfolio companies have gone public, with notable names like Swiggy, Indian Energy Exchange, and Bharat Matrimony.

Earlier this year, the firm closed its second India-focused fund at $350 million, with plans to invest in startups across sectors such as AI, SaaS, fintech, digital health, consumer brands, and cybersecurity.

According to a press release, Kisah will use the funds to expand its offline footprint, scale its direct-to-consumer (D2C) operations, and boost brand visibility.

Founded in 2018 by Yash Sarawagi and Yashwi Ladasaria, the Kolkata-based brand offers stylish and affordable ethnicwear specifically tailored for Gen Z and millennial consumers.

Initially launched as a marketplace-first venture, Kisah has since begun transitioning into an omnichannel brand. Currently, it operates two physical retail stores; moreover, it plans to open three additional outlets soon in key Indian cities.

“E-commerce gave us pan-India reach and deep customer insights, which are now fueling our D2C and offline growth—backed by data, customer pull, and positive cash flow at the company level,” said Yash Sarawagi, co-founder and CEO of Kisah Apparels.

Kisah noted that it has developed internal systems to analyze data from both its marketplace and D2C channels. These insights help guide product design, sourcing strategies, supply chain optimization, and marketing efforts. The brand claims to have scaled from a revenue range of ₹40–45 crore to a current run rate exceeding ₹100 crore while maintaining positive operating cash flow and profitability (PAT).

Backed by strong financial growth, data-driven operations, and fresh capital, Kisah Apparels aims to accelerate its expansion and establish itself as a leading omnichannel ethnicwear brand for India’s Gen Z and millennial consumers.

While the financial details of the investment and the stake held by Bumrah remain undisclosed, it’s a notable development, especially since Bumrah has been Uppercase’s brand ambassador since the brand’s inception.

According to Sudip Ghose, founder and managing director of the Mumbai-based company, the partnership is set to expand beyond marketing. Uppercase will collaborate with Bumrah to launch a new product line, including luggage, backpacks, and gym bags specifically designed with athletes and sportspersons in mind. The initiative blends functionality with style, aiming to meet the needs of active individuals.

As part of the agreement, a share of the profits from these co-created products will go to Bumrah, deepening his role in both the creative and business sides of the brand.

Commenting on his investment, Bumrah said in an emailed response, “It’s the way Uppercase has built something meaningful in a space that’s very cluttered. Their focus on sustainable materials, functionality, and design, and the fact that they’re doing it all out of India — was really impressive.”

He further said, “There’s a lot we are planning to explore, but to keep it simple — I’m bringing in the perspective of someone who’s always on the move. Whether it’s long tours or short trips, I know the small things that make a big difference in a bag. I want the design to be clean, functional, and genuinely useful —especially for people who travel often, like athletes or professionals.”

This move aligns Bumrah with a growing wave of Indian cricketers who are stepping into the world of startups and investments. Sachin Tendulkar, MS Dhoni, Rohit Sharma, Yuvraj Singh, Hardik Pandya, and Ajinkya Rahane have all made strategic equity investments or launched entrepreneurial ventures in recent years, leveraging their fame to build long-term business value.

Uppercase, which produces all of its products domestically, is set to launch its own manufacturing unit in Nashik in the near future. According to founder Sudip Ghose, approximately 60% of the company’s revenue currently comes from offline retail, with the remaining portion generated through online sales channels.

As per data from Tracxn, Uppercase recorded a revenue of ₹64 crore in the fiscal year 2023–24, alongside a net loss of ₹17.6 crore. The company has not yet submitted its financial results for 2024–25. Founder Sudip Ghose mentioned that the company is targeting break-even in the upcoming year and is also considering the possibility of a public listing down the line.

On his broader investment philosophy, Bumrah said, “I am looking to invest in companies that I feel I can add value to and bring my perspective to product development. I am not looking at specific sectors because impact on society can be found if we find it in the right place, and that’s what I am looking for, in companies, to invest in.”

The startup plans to use the funds to improve its AI-powered technology, expand operations in tier-2 and tier-3 cities, and grow its team. These efforts aim to serve sellers better and enhance customer experiences.

“We will invest heavily in software, and leverage our team and growth consultants, and build software that can help merchants optimize their storefront automatically. Second goal is to start expanding top of the funnel and get more and more D2C brands to work with us, given that our software has reached a steady state,” cofounder Rishabh Verma said.

The SaaS startup offers small and medium-sized sellers consulting support in areas like storefront management, marketing, shipping, and customer engagement. It also helps businesses establish and scale their online presence efficiently.

Verma noted that merchants often have mixed feelings about marketplaces. While they receive high order volumes, they miss out on building direct connections with their customers.

Founded in 2018 by Verma and Harmin Shah as WMall, a social commerce platform, the company transitioned to NuShop in 2022 and eventually became ShopDeck. Initially, Elevation Capital, Venture Highway, and Chiratae Ventures backed WMall.

“We began our journey at the end of 2018 with the thesis for building a value commerce marketplace for India, but we encountered various roadblocks and were unable to scale. In 2022, we decided to shut down our initial model and pivot to our current model, which we believe is relatively more interesting than what we were pursuing earlier,” said Verma, hinting at the consolidation of social commerce companies that happened during the time.

ShopDeck competes with players like Shiprocket (backed by Zomato) and Shipway (supported by Unicommerce). The platform caters to various categories, including fashion, accessories, jewelry, home and kitchen products, and general merchandise. “We’ll expand into beauty, which obviously is a big segment for D2C, and maybe even foods,” he said.

Commenting on the investment, Anant Vidur Puri, partner at Bessemer Venture Partners, said, “India’s e-commerce is booming, but small merchants remain underserved. ShopDeck’s innovative profitability-first approach, combining AI-driven tools and service support, positions it uniquely in the market.” 

Angel investors such as Kartik Mehta, Ali Tambawala, and Sunil Tulsiani participated in the funding round.

The Health Factory plans to use the new funds to speed up product development and invest in research and development (R&D), which will help them create new product segments.

The company aims to grow its retail presence in general and modern trade channels while improving its logistics and operational technologies.

“This investment will enable us to disrupt additional markets with our health-focused offerings. We have received interest from numerous tier-1 and tier-2 cities, and this funding will allow us to expand our reach to more pin codes, ensuring our products are accessible to more consumers seeking healthier options,” said Vinay Maheshwari, founder of The Health Factory.

Founded in 2018 by Maheshwari and Mohit Sankhala, The Health Factory specializes in producing protein bread, vegan protein bread, and zero maida bread. The company claims that all its products are free from chemicals and preservatives.

The brand’s offerings are now available in cities like Mumbai, Pune, Bengaluru, Delhi, Chandigarh, Ahmedabad, Lucknow, Hyderabad, and Chennai. Customers can purchase them through quick commerce platforms such as Zepto, Swiggy Instamart, and Blinkit.

This funding comes as quick commerce and demand for direct-to-consumer (D2C) brands are surging, fueled by the fast deliveries offered by these platforms. As a result, investors are increasingly interested in early and mid-stage D2C companies.

On September 24, kids’ personal care brand Tuco Intelligent announced raising $2 million in a seed funding round led by Fireside Ventures and Whiteboard Capital.

Other brands, such as organic fresh produce startup Gourmet Garden and healthy snack company The Whole Truth, are also in talks to secure funding.

The Health Factory reported a 65-fold increase in sales over the past 24 months. The brand plans to expand into tier-1 and tier-2 cities to meet the rising demand for healthier bread alternatives.

This acquisition makes Uniclan a subsidiary of DOMS. As part of the deal, DOMS acquired 71,16,080 equity shares for a total of ₹54.88 crore. Out of this, ₹28.88 crore will be a primary infusion, which Uniclan will use to expand capacity, repay debt, and support working capital needs.

The acquisition allows the brand to broaden its product range and diversify its portfolio, aligning with its growth strategy to reach a wider audience. By stepping into the diaper market, valued at around $2 billion and growing at a CAGR of about 16%, DOMS greatly increases its potential target market.

Commenting on the acquisition, Santosh Raveshia, Managing Director, DOMS Industries Limited, said, “While we remain focused on driving innovation and delivering value across our core business segments, the expansion is expected to boost our distribution network in the long term, opening new avenues for sales and contributing to our overall success.”

Uniclan operates a manufacturing facility in Jaipur, Rajasthan, with an annual capacity to produce around 400 million pull-up pant-style baby diapers. These diapers are mainly sold under its flagship brand, Wowper. 

Vatsal Desai, Founder and Director, of Uniclan Healthcare said, “We believe that with our focus on product quality and innovation, and leveraging DOMS distribution network in India and globally, we shall be able to elevate Uniclan’s growth trajectory and expand our reach.”

According to cofounder Aditya Ruia, the direct-to-consumer (D2C) brand, known for its eco-friendly products, will use the funds to increase production capacity, invest in research and development, enhance offline sales infrastructure, and boost brand awareness.

Commenting on the funding, Aditya Ruia, Co-founder, Beco said, “Beco’s inception ties back to the simple yet profound realization that as global citizens of the earth, we need to be more accountable for our choices and their irreversible impact on the environment. What Beco realised from day 1 is that it is not for a lack of intent, but a lack of viable choices that sustainable alternatives often get overlooked. This belief is validated by our success in disrupting the market consistently with innovative offerings, reflected in the growth we have seen in the last year. Consumers want products that are good for them, safe, yet effective. This round of funding from our existing and new investors comes at a time when we are raring to enter our next phase of growth and enhance our capabilities to meet the demand. The investors’ faith in Beco boosts our confidence that we are headed in the right direction, and we are excited to unleash the real potential that sustainability and harmful chemical-free products hold for the future.”

Founded in 2019 by Ruia, Akshay Varma, and Anuj Ruia, Beco offers plant-based and naturally sourced home and personal care products. Its range includes laundry liquids, floor cleaners, dishwashing liquids and gels, tissue papers, toilet rolls, napkins, kitchen towels, and compostable garbage bags.

Based in Mumbai, Beco is available in over 10,000 retail stores across more than 20 cities in India. The company plans to expand to 30,000-40,000 stores within the next year, with over 50% of sales expected from offline channels. Beco also has a strong presence on e-commerce and quick-commerce platforms like Amazon, Zepto, Blinkit, Swiggy Instamart, and DMart Ready.

Beco aims to triple its revenue by next year, although Ruia has not disclosed specific figures.

Beco runs an active direct-to-consumer business to encourage product trials. This approach has attracted interest from several large multinationals, including Amazon, ICICI, Mahindra, PVR Inox, and TAJ, for potential collaborations on sustainability initiatives.

This funding comes as consumer demand for new D2C brands rises, driven by rapid deliveries from quick-commerce platforms such as Blinkit, Zepto, and Instamart. This trend has attracted more interest from venture capital firms, leading to increased deal-making in the early- to mid-stage brand sector.

In 2022, Beco raised $3 million in a Series A round led by Rukam Capital. The company now has a post-money valuation of $11.1 million, according to Tracxn.

Sankalp Gupta, Partner, Tanglin Venture Partners, said, “Over the last few years, there has been a marked shift in consumer preferences towards healthier, toxin-free options. Beco’s focus on product innovation and backend supply chain has enabled them to offer superior products at prices comparable to the incumbents. We believe this ability, coupled with their strong distribution across offline and online channels, provides Beco a strong headstart in a very large market. We do not doubt that this company will continue to be at the forefront of innovation in this sector, and we are excited to be a part of this journey.”