The US-based cosmetic major Estee Lauder has acquired a minority stake in Forest Essentials, an Indian luxury ayurvedic skin, body and hair care brand.
“This agreement will help us expand our growing expertise and competitiveness in the natural products arena, while Forest Essentials will benefit from our long history of successful brand management and global expansion,” William P Lauder, chief executive officer of The Estee Lauder Companies, said in a statement.
According to the deal, Forest Essentials will now be a part of Estee Lauder’s portfolio, alongside popular brands including Aramis, Clinique, Origins, MAC, Tommy Hilfiger, Donna Karan and Estee Lauder.
Mira Kulkarni, chief executive officer of Forest Essential said: “We are delighted to gain The Estee Lauder Companies’ brand-building and marketing expertise, which will help take Forest Essentials to the next level.”
Estee Lauder launched its products in India in July 2005, while Forest Essentials has seven stores in the country and also supplies its products to high-end hotels and spas.