Langham Capital steers top Ayruvedic brand to Estee Lauder investment
18th July 2008
Forest Essentials, a manufacturer and retailer of quality Ayurvedic products, has sold a strategic stake to Estée Lauder Companies Incorporated.
Forest Essentials was founded in 2000 by Mira Kulkarni and is today one of theto samjhleading beauty brands in the country. The company has more than 100 products, which are sold in Forest Essential’s nine freestanding stores in India and in high-end hotels and spas.
Mira Kulkarni, Chief Executive Officer of Forest Essentials said, “This is an important strategic relationship for us. The Estée Lauder Companies expertise in brand-building, marketing and distribution will help take Forest Essentials to its true potential and we in turn offer our partner specialized expertise in natural products. It is matter of great pride that an organic Indian company is able to produce indigenously made products that can compete with the best in the world. ”
“Forest Essentials gives us a stronger presence in the rapidly expanding beauty market in India,” said William P. Lauder, Chief Executive Officer, The Estée Lauder Companies. “We have seen how more and more consumers around the world are interested in beauty products with a natural heritage. This agreement will help us expand our growing expertise and competitiveness in the natural products arena while Forest Essentials will benefit from our long history of successful brand management and global expansion.”
Forest Essentials has grown a 100% in the last three years and internal projections are for another 100% growth in the next two years. The company plans to have 35 stores in India by 2011. It will then look at International locations, in concert with Estée Lauder.
Langham Capital provided strategic and financial advice to Forest Essentials.
