American beauty major, the Estée Lauder Companies, is set to acquire Forest Essentials. Estée Lauder said it has entered into an agreement to buy out the remaining 51 per cent stake in the Indian luxury Ayurveda brand, subject to regulatory approvals, with the transaction expected to close in the second half of 2026. The acquisition amount remains undisclosed.
Founded in 2000 by entrepreneur Mira Kulkarni, Forest Essentials will continue to be led from India even after the acquisition. Kulkarni will remain at the helm of the brand, with its headquarters staying in New Delhi, and her son, executive director Samrath Bedi, continuing in his leadership role. “The brand will maintain its fully integrated operational ecosystem in India, spanning research and development… and in-house manufacturing,” Estée Lauder announced. This is Estée Lauder’s first such engagement with an Indian brand.
The acquisition will not alter the identity of Forest Essentials, Stéphane de La Faverie, president and chief executive officer of the Estée Lauder Companies, told Business Standard from New York City. The name, product strategy, and price positioning will remain unchanged, with Kulkarni and her team continuing to develop the product portfolio and driving its strategy. “Our philosophy is always to honour and respect the brand DNA,” de La Faverie said. “What we will bring is the operational scale to help the brand reach the next level.”
The acquisition is also strategically significant for the US beauty conglomerate’s global footprint. Combining prestige beauty brand Forest Essentials with Estée Lauder’s existing portfolio, which includes M.A.C, Bobbi Brown, Clinique, La Mer, Jo Malone London, and Aveda, will make India the company’s largest emerging market, de La Faverie said.
For Estée Lauder, which celebrates its 80th anniversary this year, the move builds on a relationship that began with a minority investment in 2008, which was increased to 49 per cent in 2020. “This marks a meaningful new chapter in a partnership built over the past 18 years,” de La Faverie said.
About the acquisition, Kulkarni said Estée Lauder not only brings “exceptional expertise in prestige beauty”, but also respects the integrity of what Forest Essentials has built in India. “They understand that our cultural roots and Indian-based operations are central to our success,” she said, expressing confidence that the company will prove to be “a partner who sees our Indian identity not as a limitation, but as our greatest strength”.
Forest Essentials currently has nearly 200 freestanding stores across India, and its net sales are projected to grow in the low double digits.
De La Faverie said the acquisition is aimed at scaling the brand globally, while preserving its Indian roots. “Forest Essentials is an exceptional brand, beloved in India,” he said, adding that the company wants to strengthen its leadership at home, while introducing it to a wider international audience.
“We see Indian beauty as a growing force not only for India but for the world,” de La Faverie said, describing the current moment as an inflection point for the brand and the beauty industry. The plan, he added, is to support “India for India, and India for the world”, strengthening the domestic foundation, while expanding internationally.
The Estée Lauder Companies, which sells products in about 150 countries, has been present in India for more than two decades and currently operates 14 of its 20 brands in the market across skincare, makeup, and fragrance. Of its overall brands, four were created inhouse; the remaining are acquisitions or partnerships.
Likening Kulkarni’s entrepreneurial vision to that of Estée Lauder, the American businesswoman, who co-founded the eponymous cosmetics company with her husband, de La Faverie said, “Entrepreneurial spirit lives at the heart of our company… Mira reminds me of Estée Lauder, a visionary entrepreneur with a deep passion for her brand.”
Source: Business-Standard 