'Mamaearth parent has appetite and funds for new brands'
₹4 crore.As part of the transaction, Honasa will acquire, apart from formulation expertise, the R&D labs as well as CosmoGenesis’ nano-manufacturing facility. “This is something that further strengthens our ability to innovate and bring the right kind of products to the consumers. Rohini Manoj (founder) will be joining us as vice president of research and development.
This deal is likely to be closed in the next four to six weeks," Alagh said during the company’s post-earnings call Thursday. In February 2022, Honasa acquired BBlunt, a hair care, hair color and styling products brand from Godrej Consumer Products Limited (GCPL), while also acquiring BBlunt salons operated by Bhabani Blunt Hair Dressing Pvt. Ltd.
In May of that year, the company acquired a majority stake in skincare brand maker Dr. Sheth's. More recently, Honasa completed its acquisition of Dr.
Sheth's, by acquiring the remaining 34.51% stake for Rs30 crore.Honasa sells beauty and personal care products under seven brands. The company has a portfolio of digital-first consumer brands like Mamaearth, The Derma Co., Aqualogica, Ayuga and Staze. Apart from the owned brand, it has acquired stakes in BBlunt and Dr.
Sheths. India's beauty and personal care (BPC) market is projected to touch $30 billion by 2027, consulting firm Redseer said in a September report. On per capita BPC spending, while the US leads at $313, and China at $38, India lags significantly at just $14.
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