Spanish group Puig has acquired a majority stake in Kama Ayurveda, an Ayurvedic brand providing traditional and holistic treatments for beauty and wellness, founded in 2002 in India. Puig has held a minority stake in Kama Ayurveda, since 2019.
With this acquisition, Puig strengthens its presence in India and its position in the wellness category.
Kama Ayurveda offers ranges of products that are rooted in the traditional Indian medical science of Ayurveda, which focuses on the balance between mind, body, and spirit for holistic wellbeing.
A leading brand in India
Kama Ayurveda currently operates 54 owned stores in India, with plans to operate more than 60 by the end of 2022. “With a sophisticated on-line presence and strong domestic brand recognition, Kama Ayurveda is ideally positioned to take its products to the global stage,” says Puig in a statement.
“We are delighted to strengthen our partnership with Kama Ayurveda, which has become a leading brand in India, earning the loyalty of millions of discerning beauty customers with sustainable, plant-based skincare and lifestyle products. India represents an incredibly exciting opportunity for Puig, and with this investment we will continue our strategy of consolidating Kama Ayurveda’s strong domestic presence and of pursuing compelling opportunities in key markets abroad,” adds Marc Puig, Chairman and CEO of Puig.
Puig intends to boost the brand’s leadership in the Indian market and support the further expansion of Kama Ayurveda into global markets including the UK in early 2023, as well as offering expertise in brand building, technology skincare and perfumery.
“We are proud to be writing this new chapter in our successful partnership with Puig, which has helped accelerate Kama Ayurveda’s growth and expansion across India. By leveraging the wealth of Puig experience in nurturing founders and growing global beauty and skincare brands, together we will bring the experience of authentic Ayurvedic beauty and wellness to new audiences,” concludes Vivek Sahni, co-founder and CEO of Kama Ayurveda.
This acquisition, as well as the one of Loto del Sur in Colombia in July, is part of the group’s international development strategy, which aims a global turnover of 3 billion euros in 2023.