Key Takeaways:Following minority investments, The Estée Lauder Companies (ELC) will acquire the remaining 51% stake in Forest Essentials.Combined with the existing ELC brand portfolio, the transaction makes India the company’s largest emerging market.ELC has been active in India for over twenty years, with 14 brands and more than 400 points of distribution.Stéphane de La Faverie is making his mark on The Estée Lauder Companies' M&A, which is entering a new chapter in its relationship with Forest Essentials.WHO: Founded in 2000 by entrepreneur Mira Kulkarni, Forest Essentials represents the soul and artistry of Indian beauty. The brand has redefined modern, luxurious Ayurveda for today’s world, transforming time-honored beauty rituals into exquisitely crafted formulations, immersive retail experiences with nearly 200 freestanding stores, and sensorial indulgences rooted in purity and craftsmanship. The brand has a fully integrated operational ecosystem in India, spanning Research & Development, responsible and local botanical sourcing, and in-house manufacturing. The end-to-end model enables the brand to innovate with integrity, uphold exceptional quality, reduce its environmental impact, and continue cultivating enduring consumer trust.WHY: With this acquisition, The Estée Lauder Companies is well-positioned to gain prestige beauty share in one of the most dynamic beauty markets in the world. This deal builds on an 18-year partnership and reflects the company’s strong confidence in Forest Essentials’ highly trusted brand equity, its vertically integrated capabilities, and its sustainability ethos.