Key takeaways on ELC’s Forest Essentials acquisition
- Estée Lauder Companies is acquiring Indian luxury Ayurveda brand Forest Essentials after holding a minority stake for 18 years.
- The brand will continue to operate from India under founder Mira Kulkarni and Executive Director Samrath Bedi.
- ELC aims to expand Forest Essentials internationally while preserving its Ayurvedic heritage and craftsmanship.
- The acquisition supports ELC’s broader strategy to grow its presence in India, one of its largest emerging markets.
- Forest Essentials is the top-ranked prestige skin care brand in India and continues to forecast strong growth.
US beauty multinational Estée Lauder Companies Inc (ELC) plans to acquire Indian luxury Ayurveda brand Forest Essentials.
The business has held minority shares in the company for the past 18 years, increasing its stake to 49% in 2020. ELC said it has strong confidence in the brand and is now committed to growing it and expanding its global consumer reach.
Forest Essentials was founded in 2000 by Mira Kulkarni and set out to redefine modern luxurious Ayurveda for today’s world. The brand has nearly 200 freestanding stores and is the top-ranked prestige skin care brand in India, according to Euromonitor data.
A longstanding partnership evolves into full acquisition
The brand is forecast to grow its net sales in the low double digits, and ELC said that this, combined with its existing brand portfolio, will make India the company’s largest emerging market.
Estée Lauder Companies hopes that with this acquisition it will be well-positioned to gain prestige beauty share of the India beauty market.
The brand will continue to be run by Kulkarni and her son, Executive Director Samrath Bedi, and will remain headquartered in New Delhi. It will also maintain its fully integrated operational ecosystem in India, ensuring Research & Development grounded in Ayurveda, responsible and local botanical sourcing, and in-house manufacturing.
Estée Lauder Companies’ President and CEO Stéphane de La Faverie said that the business had a deep and inherent appreciation for the vision and tenacity required to build a brand of this calibre.
“We are honoured to strengthen our partnership with Mira, who, like Mrs Estée Lauder, has elevated the prestige beauty industry through a clear vision of authenticity and purpose,” he said.
De La Faverie added that the next phase of the partnership reflects ELC’s long-term commitment to India – one of its largest and most significant emerging markets. He said he strongly believed in the global resonance of the brand.
“Together, our ambition is clear: to further strengthen the brand’s leadership at home while thoughtfully introducing it to a global audience,” he said. “We are committed to expanding this reach without compromising the integrity, craftsmanship, and cultural soul that define Forest Essentials, and look forward to supporting Mira and her son Sam in the brand’s exciting future.”
Meanwhile, founder and MD of Forest Essentials, Mira Kulkarni, said she believed that ELC would understand how to preserve the brand’s soul while providing the global expertise needed to scale.
“Our shared mission has always been to establish Luxury Ayurveda as a globally respected pillar of modern beauty,” she said. “Ayurveda is not folklore; it is a sophisticated system of science, ritual, and holistic wellbeing. By combining our heritage with the operational strength of The Estée Lauder Companies, we have the opportunity to bring this wisdom to a global audience.”
Kulkarni said the next phase is about continuity and growth. “We continue to lead the brand from India, strengthening our operational excellence and commitment to our Indian consumers, while thoughtfully expanding internationally.”
ELC strengthens its footprint in India’s prestige beauty market
The Estée Lauder Companies said it has had a meaningful presence in India’s prestige beauty landscape for the past 20 years – with 14 of its brands across skin care, makeup, fragrance and hair care serving consumers nationwide.
The company also runs a BEAUTY&YOU India initiative, which discovers, supports and accelerates the next generation of India-focused beauty entrepreneurs. It said it has also prioritised social investments in the Indian market, with more than $14 million dedicated to strengthening health, education, leadership and life skills through partnerships with local NGOs.