US-based personal care manufacturer and retailer The Estée Lauder Companies has agreed to acquire the remaining interests in Indian beauty brand Forest Essentials, subject to regulatory approvals.
The deal builds on an 18-year relationship between the two companies and is expected to be completed in the second half of 2026.
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The Estée Lauder Companies first took a minority stake in Forest Essentials in 2008. Its holding was later increased to 49% in 2020.
Established in 2000, Forest Essentials develops beauty and personal care products, as well as operates nearly 200 standalone retail stores.
The company said that it is projected to grow net sales in the low double digits.
The Estée Lauder Companies president and CEO Stéphane de La Faverie said: “This next phase of partnership reflects our long-term commitment to India – one of our largest and most significant emerging markets – and our conviction in the global resonance of this remarkable brand.”
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By GlobalDataFollowing completion of the transaction, Kulkarni and her son Samrath Bedi will continue to oversee the brand.
Forest Essentials will remain headquartered in New Delhi and will continue to operate its vertically integrated structure in India, including Ayurveda-based research and development.
The expansion of Forest Essentials, alongside the group’s existing portfolio, is also expected to make India the company’s largest emerging market.
Forest Essentials founder and managing director Mira Kulkarni said: “Our shared mission has always been to establish Luxury Ayurveda as a globally respected pillar of modern beauty. Ayurveda is not folklore; it is a sophisticated system of science, ritual, and holistic well-being.”
The Estée Lauder Companies currently operates 14 brands across makeup, fragrance, skin and hair care in India.
The company also runs the BEAUTY&YOU India initiative, which supports emerging beauty entrepreneurs, and has invested more than $14m in social programmes in the country through partnerships with local non-governmental organisations.
