Gurgaon: Honasa Consumer Pvt. Ltd. (HCPL), the parent company of Mamaearth, and The Derma Co., and the fastest-growing House of Brands for personal care, has acquired Dr. Sheth’s, a dermatologist-formulated premium skincare brand designed exclusively for Indian skin by three generations of skin doctors. Through this acquisition, HCPL has control of the majority stake in Dr. Sheth’s at a valuation of INR 28 Cr. The primary round of funds will be directed to accelerate future growth of the brand.
While HCPL has control of the majority stake in Dr. Sheth’s, Dr. Aneesh Sheth will continue to lead the business and product innovation for the brand.
Commenting on the acquisition, Varun Alagh, Co-Founder and CEO, Honasa Consumer Pvt. Ltd. said,” Dr. Sheth’s is a brand that is synonymous with heritage and legacy, and we are excited about this partnership as it will help us widen our portfolio offerings under the HCPL umbrella. It will be a symbiotic relationship wherein there will be knowledge sharing across brands and collaboratively build the brand and its product portfolio. Being a house of brands, Honasa Consumer Pvt. Ltd. has attained expertise in building millennial brands with a digital-first approach. We will utilize our expertise and proficiency in digital marketing to accelerate the growth and scale growth for Dr. Sheth’s and we are confident that we will make it a 100 Cr run rate brand in 2 years. HCPL & Dr. Sheth’s synergize on fundamental ideologies of distinctive product innovation and strong millennial connect, we are confident this collaboration will be a success for consumers and for both brands.”
Honasa Consumer Pvt. Ltd. has established itself at the forefront of digital branding and marketing and this acquisition will further strengthen the company’s strength in the millennial personal care segment.
Commenting on the partnership Aneesh Sheth said, ”We are very excited about the partnership with HCPL – they bring a level of operational excellence that will make our expertise and our products accessible to a wider community. Their experience as a house of brands will also help us optimize our innovation and bring about a great range of skincare that combines the best of both worlds – science and nature. “
