Get All Access for $5/mo

Honasa Consumer Acquires Mumbai-based Skincare Brand Gurgaon-based Honasa Consumers owns an in-house portfolio of digital-first consumer brands like Mamaearth, The Derma Co., Aqualogica, and Ayuga. Backed by Sequoia Capital and Stellaris Venture Partners, among others, the company aims to become a billion-dollar FMCG conglomerate in the next 5 years

By Soumya Duggal

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

freepic

Honasa Consumer (HCPL) has bought a majority stake in Dr. Sheth's, a skincare brand "designed exclusively for Indian skin," at a valuation of INR 28 Cr. The primary round of funds will be directed to accelerate future growth of the brand, said HCPL.

According to Dr. Seth's, its products are formulated knowing that Indian skin is unique and requires specialized care. The brands' product portfolio has solutions for skin concerns like pigmentation, acne, dryness, wrinkles, and many others. Some of the popular products by the brand include Amla VC20 Vitamin C Serum, Haldi and Hyaluronic Acid Sleeping Mask, Cica and Ceramide Overnight Repair Serum, among others. With over 30+ SKUs, the brand claims to have catered to over 200,000 consumers.

Following the latest acquisition, Dr. Aneesh Sheth will continue to lead business and product innovation for the brand. Dr. Sheth, PhD Pharmacology and an Ivy league-trained cosmetic scientist, hails from a lineage of skincare experts comprising Dr. Sharat Desai and Dr. Rekha Seth, two of the earliest dermatologists in India.

"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," commented Dr. Aneesh Sheth, adding, "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."

Dr. Sheth's operates on the belief that millennials are evolving with a growing appreciation for sophisticated ingredients: while they seek comfort in traditional Indian ingredients in skincare, they also want to go beyond the conventional and experiment. The brand states that it has identified this void and created a portfolio of products that blend natural ingredients with science-based active ingredients, providing the best of both worlds.

As for millennial consumer behavior, HCPL has been focussing on launching and successfully scaling consumer brands with a strong connect to this key demographic. "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," says Varun Alagh, Co-Founder and CEO, Honasa Consumer Pvt. Ltd.

"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," he adds.

Soumya Duggal

Former Feature Writer

Side Hustle

Top Secrets to Starting a 6-Figure Etsy Side Hustle That Earns Passive Income, According to 3 People Who Did It

Etsy remains a popular ecommerce platfrom for sellers — and can be incredibly lucrative for those who know how to use it.

Business News

Amazon Is Thinking About Charging Extra for AI Alexa

"Hey Alexa, how much are you going to cost?"

Business News

SoftBank CEO Says AI 10x Smarter Than Humans Could Be Here in a Matter of Years

SoftBank CEO Masayoshi Son spoke to shareholders during the company's general meeting on Friday.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Business News

Amazon Is Making a Major Change to Its Packaging: 'Easier to Work With'

Opening an Amazon box is about to look a lot different.

Starting a Business

3 Essential Skills I Learned By Growing My Business From the Ground Up

Discover the most effective (and cheapest) way for founders to learn team management, efficient decision-making and other essential leadership skills.