Puig will infuse Rs 100 crore into Kama Ayurveda to support its domestic and international expansion.
Puig, Barcelona-based fashion and fragrance company, has marked its entry into India by picking a minority stake in Kama Ayurveda, India’s leading authentic ayurvedic brand of beauty and personal care products. Puig will infuse Rs 100 crore into Kama Ayurveda to support its domestic and international expansion, as well as have the option to further increase its stake in the years ahead.
The funds will be used by Kama Ayurveda for domestic and international expansion. The company will further be gaining access to Puig’s expertise and resources.
Marc Puig, Chairman and CEO, Puig, said, “This long-term alliance gives us the ability to further develop our focus on retail business worldwide and also to be present in a market with tremendous potential for beauty and personal care, as well as fragrances.”
“The partnership will enable us to offer Kama Ayurveda’s authentic Ayurvedic, plant-based, beauty and personal care products to a wide audience, a perspective that is in keeping with our commitment to sustainable, responsible business models. I wish to express my admiration for Vivek Sahni’s creativity and innovation in developing Kama Ayurveda, a brand which has deservedly earned the loyalty of India’s discerning beauty consumers,” he added.
Vivek Sahni, Co-founder and CEO, Kama Ayurveda, stated, “The ayurvedic beauty industry is on a fast-paced growth trajectory and this partnership with Puig will accelerate our growth both on the domestic front and globally. Puig has an impressive track record in building global brands and we look forward to their strategic support and guidance for our next leg of growth, as we, too, become a global brand.”