Spanish Beauty Major Puig acquires Majority Stake in Indian Ayurvedic D2C Startup Kama Ayurveda

Kama Ayurveda

Spanish beauty and lifestyle brand Puig has acquired a majority stake in ayurvedic D2C brand Kama Ayurveda. However, it did not disclose the financial details of the transaction.

The Spanish company acquired a minority stake in Kama Ayurveda for INR 100 cr in 2019. Puig will continue its efforts to strengthen Kama Ayurveda’s leadership position in the Indian market and expand its geographic footprint in international markets, including the UK in 2023, the company said in the statement. In addition, it will also offer expertise to Ayurvedic startup D2C in branding, technology, skin care and perfumery categories.

Established in 2002, Kama Ayurveda sells a range of organic beauty products across skin, hair and body categories. The startup collaborated with Tamil Nadu-based pharmacy Arya Vaidya in the early years to manufacture Ayurvedic products.

Founded in 1914, Puig is a fashion and beauty brand. It sells a lot of products in three beauty categories – fragrance, make-up and dermo-cosmetics. Puig is represented in more than 150 countries and has branches in 29 countries.

Vivek Sahni, Co-founder and CEO of Kama Ayurveda, said, “We are proud to partner with Puig, which has helped accelerate the growth and expansion of Kama Ayurveda across India. By leveraging Puig’s wealth of experience in nurturing founders and growing global beauty and skincare brands, together we will bring the experience of authentic Ayurvedic beauty and wellness to a new audience.”

Marc Puig, Chairman and CEO of Puig, said, “India represents an incredibly exciting opportunity for Puig. With this investment, we will continue our strategy of consolidating Kama Ayurveda’s strong domestic presence and pursuing compelling opportunities in key markets abroad.”

Kama Ayurveda currently operates 54 exclusive stores in India and plans to increase the number of stores to 60 by the end of 2022.

Apart from the D2C model, Kama Ayurveda also follows a shop-in-shop retail concept and reportedly works with 70 outlets including Shoppers Shop. During the pandemic, the startup permanently closed eight stores that were set up around airports.

Puig’s product portfolio includes Carolina Herrera, Paco Rabanne, Jean Paul Gaultier, Dries Van Noten, Nina Ricci, Byredo, Penhaligon’s, L’Artisan Parfumeur, Loto del Sur, and Charlotte Tilbury, among others.

Kama Ayurveda represents a significant addition to Puig’s product portfolio and strengthens its wellness category, the statement said.

Ayurvedic D2C brands have seen a lot of fundraising activity over the past nine months. While NirogStreet raised $4 million in December 2021, TAC raised $3 million in March this year.

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