Puig will continue its efforts to strengthen Kama Ayurveda’s position in the Indian market and increase its geographical reach in overseas countries, particularly the United Kingdom, in 2023. Puig purchased a minority share in Kama Ayurveda for INR 100 crore in 2019. Kama Ayurveda presently has 54 exclusive outlets in India, with ambitions to expand to 60 by the end of 2022.
Puig, a beauty and lifestyle brand based in Spain, said on Wednesday (September 14) that it has acquired a controlling share in ayurvedic D2C firm Kama Ayurveda. The financial terms of the transaction, however, were not disclosed.
In 2019, the Spanish firm paid INR 100 crore for a minority share in Kama Ayurveda. Puig said in a statement that it will continue to work to strengthen Kama Ayurveda’s position in the Indian market and grow its geographical footprint in overseas areas, including the United Kingdom, by 2023.
Furthermore, it will provide experience to the ayurvedic D2C firm in the areas of brand creation, technology, and skincare and perfumery.
Kama Ayurveda, which was founded in 2002, supplies a variety of organic beauty products for the skin, hair, and body. In the early years, the firm collaborated with Tamil Nadu-based Arya Vaidya Pharmacy to develop ayurvedic remedies.
Vivek Sahni, co-founder and CEO of Kama Ayurveda, stated, “We are delighted to be working with Puig, which has aided Kama Ayurveda’s growth and spread across India.” We will provide the experience of true ayurveda beauty and wellbeing to new audiences by utilizing the depth of Puig expertise in nurturing creators and expanding global beauty and skincare businesses.”
Presently has 54 exclusive outlets in India, with ambitions to expand to 60 by the end of 2022.
Aside from the direct-to-consumer strategy, Kama Ayurveda adheres to the shop-in-shop retail idea and has reportedly worked with 70 stores, including Shoppers Shop.
During the epidemic, the startup forced the closure of eight outlets located near airports.
Kama Ayurveda reported operating revenue of INR 96 Cr and a deficit of INR 24 Cr in fiscal year 2020-21.
Puig was founded in 1914 and provides a wide range of beauty goods in three categories: perfumes, makeup, and dermo-cosmetics. Carolina Herrera, Paco Rabanne, Jean Paul Gaultier, are just a few brands represented by Puig. The company has a presence in over 150 countries and offices in 29 of them.
Kama Ayurveda is a novel addition to Puig’s product line and boosts its wellness sector.
Marc Puig, chairman and CEO of Puig, stated, “India is a really interesting possibility for Puig. With this investment, we will continue our strategy of solidifying Kama Ayurveda’s strong local position while chasing enticing prospects in major international markets.”
