Estee Lauder Makes Purchase in Minority Stake
The Estee Lauder Companies Inc. purchases a minority stake in a privately held Indian company that manufactures markets and sells beauty products, under the Forest Essentials brand, which are based on Ayurvedic formulations. Terms of the agreement were not disclosed.
"Forest Essentials gives us a stronger presence in the rapidly expanding prestige beauty business in India," says William P. Lauder, CEO of The Estee Lauder Companies. "We have seen how more and more consumers around the world are interested in beauty products with a natural heritage. 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."
Forest Essentials, which was founded in 2000 by Mira Kulkarni, uses pure essential oils and natural plant extracts in its range of skin, body and hair care products. Its portfolio of more than 100 SKUs is sold in the company's seven freestanding stores and in high-end hotels and spas across India.
"Forest Essentials gives us a stronger presence in the rapidly expanding prestige beauty business in India," says William P. Lauder, CEO of The Estee Lauder Companies. "We have seen how more and more consumers around the world are interested in beauty products with a natural heritage. 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."
Forest Essentials, which was founded in 2000 by Mira Kulkarni, uses pure essential oils and natural plant extracts in its range of skin, body and hair care products. Its portfolio of more than 100 SKUs is sold in the company's seven freestanding stores and in high-end hotels and spas across India.