Puig has increased its investment to acquire a majority stake in Kama Ayurveda, described by the Spanish family-owned beauty and fashion company as India’s leading authentic Ayurvedic brand of beauty and personal care products. Puig has held a minority stake in Kama Ayurveda since 2019.
Puig said the acquisition reaffirms its commitment to a company and a market with vast growth opportunity in beauty and wellness products.
Kama Ayurveda strengthens Puig’s wellness category presence with an offer that is rooted in the traditional Indian medical science of Ayurveda, which focuses on the balance between mind, body, and spirit for holistic wellbeing.
Kama Ayurveda currently operates 54 owned stores in India, with plans to increase that to more than 60 by the end of 2022. With a sophisticated on-line presence and strong domestic brand recognition, Kama Ayurveda is ideally positioned to take its products to the global stage, Puig said.
Puig said it will maintain its commitment to boost the brand’s leadership in the Indian market and support the further expansion of Kama Ayurveda into global markets including the UK in early 2023. Puig will also offer expertise in brand building, technology skincare and perfumery.
Puig Chairman and CEO Marc Puig said: “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.
“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.”
Kama Ayurveda Co-founder and CEO Vivek Sahni commented: “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. By leveraging the wealth of Puig experience in nurturing founders and growing global beauty and skincare brands, together we will bring the experience of authentic Ayurvedic beauty and wellness to new audiences.”
