The Estée Lauder Companies has ambitious plans to develop soon to be fully acquired Indian prestige skincare brand Forest Essentials on the global stage.
The US beauty house announced last month it had entered into an agreement, subject to regulatory approvals, to acquire the remaining interests in the acclaimed beauty brand grounded in the science of modern Luxurious Ayurveda.
As reported, in 2008 The Estée Lauder Companies purchased a minority stake in the privately held Indian company founded in 2000 by Mira Kulkarni. Forest Essentials is India’s leading prestige skincare brand and enjoys a strong position in the country’s burgeoning domestic and international airport retail channel.
Speaking on Friday’s Q3 earnings call, The Estée Lauder Companies Chief Executive Officer Stéphane de La Faverie said, “I’m thrilled to welcome to our portfolio the #1 prestige skincare brand in India, Forest Essentials. In March, we agreed to build upon a long-term partnership as a minority owner by acquiring the remaining shares.
“With the transaction expected to close in the second half of the calendar year, Forest Essentials is an exquisite Indian beauty brand grounded in the science of modern Luxurious Ayurveda. We are excited to expand the brand in India and share it with the world.”
Staying on the subject of investments, de La Faverie also highlighted the group’s recent minority investment in luxury skincare brand 111Skin, “which is ideally positioned for pre- and post-procedure growing demand”.
He continued: “This exemplifies our minority investment strategy to build brands for the future like we did with DECIEM and Forest Essentials.”
India becomes The Estée Lauder Companies’ #1 emergent market
When announcing the full takeover last month, The Estée Lauder Companies said, “Forest Essentials represents the soul and artistry of Indian beauty.
“The brand has redefined modern luxurious Ayurveda for today’s world, transforming time-honoured beauty rituals into exquisitely crafted formulations, immersive retail experiences with nearly 200 freestanding stores, and sensorial indulgences rooted in purity and craftsmanship.
“Its uncompromising commitment to authenticity has resonated deeply with consumers, establishing it as the top-ranked brand in prestige skincare in India.
“The brand, which is forecasted to grow net sales low double digits, combined with The Estée Lauder Companies’ existing brand portfolio will make India the company’s largest emerging market.
“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.
Forest Essentials Founder and Managing Director Mira Kulkarni said: “Over the past 25 years, we have built this brand with an uncompromising commitment to the authenticity, craftsmanship and wisdom of our heritage.
“For me, what has always set The Estée Lauder Companies apart is their profound respect for a founder’s vision; they understand how to preserve a brand’s soul while providing the global expertise needed to scale.” ✈
