US-based beauty conglomerate The Estee Lauder Companies has signed an agreement to acquire the remaining stake in luxury Ayurvedic skincare brand Forest Essentials, taking full ownership of the Indian brand.
The company currently holds a minority stake in Forest Essentials and will purchase the remaining shares from existing shareholders. The financial details of the transaction were not disclosed. The deal is expected to close later this year, subject to regulatory approvals.
Founded by Mira Kulkarni in 2000, Forest Essentials has emerged as one of India’s leading luxury Ayurveda-based beauty brands with a portfolio spanning skincare, haircare, and wellness products.
Estee Lauder first invested in Forest Essentials in 2008 and later increased its holding to 49% in 2020. With the latest transaction, the New York-headquartered company will gain full ownership of the business. Forest Essentials will continue to operate from India following the transaction, while Kulkarni is expected to remain involved with the brand to preserve its heritage and product philosophy rooted in traditional Ayurvedic formulations.
The acquisition highlights Estee Lauder’s growing focus on India, which has emerged as a key market for prestige beauty brands amid rising disposable incomes and increasing demand for premium skincare and natural beauty products.
During the full fiscal year ended 2025, Forest Essentials recorded 18% year-on-year growth to Rs 578 crore, up from Rs 490 crore in FY25. At the same time, the profits of the firm grew by 71% to Rs 123 crore in FY25.