Spanish beauty and fashion company Puig strengthens its position in India, making its third deal in 2022 taking majority stake in Kama Ayurveda.
WHO: Founded in New Delhi in 2002, Kama Ayurveda is India's leading authentic Ayurvedic beauty and wellness brand. The products are primarily plant-based and vegan, made with natural and organic ingredients. The brand is currently only distributed in India through 54 owned stores as well as wholesale.
Puig is a third-generation family-owned fashion and fragrance business. Its portfolio of brands includes a combination of owned brands such as Byredo, Loto del Sur, Charlotte Tilbury, Dries Van Noten, Carolina Herrera, Nina Ricci, Paco Rabanne, Jean Paul Gaultier, Penhaligon's, and L'Artisan Parfumeur; licenses such as Prada, Christian Louboutin, and Comme des Garçons; and lifestyle fragrances. The products are sold in over 150 countries.
WHY: Puig made the 12.5 million euro investment in Kama Ayurveda in 2019 with the option to increase its stake in the future. The move also gave Puig a foothold in India, including the country's retail network.
IN THEIR OWN WORDS: "We are delighted to strengthen our partnership with Kama Ayurveda, which has become a leading brand in India, earning the loyalty of millions of discerning beauty customers with sustainable, plant-based skincare and lifestyle products," said Marc Puig, Chairman and CEO of Puig.
"India represents an incredibly exciting opportunity for Puig, and with this investment we will continue our strategy of consolidating Kama Ayurveda's strong domestic presence and of pursuing compelling opportunities in key markets abroad."
"We are proud to be writing this new chapter in our successful partnership with Puig, which has helped accelerate Kama Ayurveda's growth and expansion across India," added Vivek Sahni, co-founder and CEO of Kama Ayurveda.
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