Spanish firm Puig acquires majority stake in Kama Ayurveda

Both firms declined to comment on the size of the deal, but the perfume firm invested in 2019 100 crores in Cama for minority stake.

Vivek Sahni, co-founder and chief executive of Kama Ayurveda, told Mint last month that it will add 10 stores to its existing 57 in India this fiscal year in locations such as Bareilly, Thiruvananthapuram, Ranchi, Siliguri, Jodhpur and Goa. He added that the company will also expand to the UK in 2023.

The company also operates on a shop-in-shop model and has 70 such outlets with retailers such as Shoppers Stop. It closed eight stores during the pandemic in cities such as Raipur and Amritsar where there were outlets at airports.

Puig said it has invested in the brand to strengthen its wellness category as the firm operates in the ‘Indian medical science of Ayurveda’. The company said in a statement, “Puig will continue to maintain its commitment to fostering brand leadership in the Indian market and continue to provide expertise in brand building, skin care technology and perfumery as well as the further expansion of Kama Ayurveda in global markets. Will keep.”

Mark Puig, President and CEO of Puig, said, “India represents an incredibly exciting opportunity for Puig, and with this investment we are looking at Kama Ayurveda’s strong domestic presence and pursuing lucrative opportunities in key markets overseas. We will continue our strategy to do so.”

“Together, we will bring the experience of authentic Ayurvedic beauty and wellness to new audiences,” Sahni said.

According to ResearchAndMarkets.com, Indian Ayurvedic products have reached market value 515.5 billion more are projected to reach in 2021 1,536.9 billion by 2027, at a compound annual growth rate of 19.78% by 2027.

In 2021, Puig recorded sales of €2,585 million. It sells its products in over 150 countries and has offices in 29 of them.

post your comment
first article