Indian market leader Lotus Herbals has acquired a 32 percent stake in Fixderma India, owners of Fixderma and FCL brands.
WHO: Gurugram-based Fixderma owns the Fixderma and FCL brand of dermaceuticals. The formulations are developed based on the company's expertise in skin biology and specialization in dermatology. The DTC brand distributes the products through dermatologists and pharmacies in India and 35 overseas markets.
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 gives Lotus Herbals a foot into India's dermaceutical segment through a range of skincare and haircare products.
IN THEIR OWN WORDS: Nitin Passi, Joint Managing Director at Lotus Herbals, said in a statement, "Over the past 27 years Lotus has always been an innovation leader in the beauty industry. We are delighted to partner with Fixderma as their brand philosophy, ethics, and diversified range of world class dermaceutical products fit perfectly with the values and experimental blueprint of Lotus. With our strategic planning and marketing expertise, we aim at enhancing the global footprint for Fixderma and FCL and capture significant market share within the next five years as part of our long-term growth strategy."
Anurag Mehrotra, Chairman of Fixderma India Pvt Ltd, added: "Lotus Herbals has a strong and successful history in the beauty industry and we are confident that the expertise and experience Lotus Herbals brings will ensure greater success for our brands. Developments in the Indian skincare industry are exciting and challenging, especially in the e-commerce space; however, the engagement level, passion and experiential resonance our customers have with our brands is amazing. We are thrilled to partner with Lotus to help strategically optimize this in a meaningful way."
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