Indian natural beauty company Lotus Herbals has acquired a 100 percent stake in Ayurvedic wellness and beauty brand SoulTree, and its parent company Vedicare Ayurveda.
WHO: Founded in 2006 by Vishal Bhandari, SoulTree is the first Indian brand to offer European certified-natural personal care and beauty products. The products use authentic Ayurvedic recipes and honestly sourced natural, organic ingredients. The brand empowers and supports female farmers in the hill state of Uttarakhand, India, by sourcing organic herbs, flowers, and fruits for making the organic extracts used in many of their Ayurvedic formulations. SoulTree today is present in all major cities of India as well as in France, Germany, Switzerland, United Kingdom, Spain, Bulgaria, Ukraine, South Africa, Australia, and Japan.
Lotus Herbals, founded in 1993 by Kamal Passi, combines the ancient wisdom of the Vedas and 21st-century technology, becoming a market leader in India in the natural personal care and cosmetics space. The business currently has a portfolio of over 400 products across skincare, sun protection, and makeup products. The company sells high-end skincare products under the brand Ikkai.
WHY: The deal provides access to the rapidly growing Ayurvedic wellness and beauty space as Soul Tree was the first Indian brand to be formally certified by European certification agencies.
IN THEIR OWN WORDS: Commenting on the acquisition, Nitin Passi, Joint Managing Director of Lotus Herbals, says, “We have been scanning the market for a premium certified organic Ayurvedic brand that resonates with modern consumers and SoulTree checked all the boxes. It’s a fantastic brand with a terrific soul that is built on the pillars of ethical beauty, sustainability, Ayurveda, and prestigious international organic certifications. It’s a well thought out strategic move for Lotus and SoulTree finds a perfect home at Lotus Herbals. We are sure consumers all over India and the world will fall in love with SoulTree.”
Vishal Bhandari, founder, SoulTree adds, “While charting out the course for future growth of SoulTree, I was looking for a partner who would also preserve the ethos of the brand. Lotus Herbals is a family-owned business and has a history of innovation with botanicals, making it a natural match. I am confident that under the management of Lotus Herbals, SoulTree will grow to be the leading Organic Ayurvedic brand in India and internationally, while remaining firmly rooted in principles of sustainability.”
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