The Spanish group has increased its stake in the company to a majority share, strengthening its foothold in the fast-growing Indian beauty and personal care market. The financial terms of the deal were not disclosed.
Puig first purchased a minority stake in New Delhi-based Kama Ayurveda in 2019 for €12.5 million. At the time of the deal, Puig said its cash injection would help the beauty company expand its domestic presence and also expand internationally. This fresh investment comes as Kama Ayurveda is preparing for a UK launch — the first debut outside its home market — expected early next year.
It’s the latest move from the group to boost its presence in new markets, part of an ambitious growth plan to surpass €3 billion in sales by 2025. Earlier this year, Puig increased its existing investment in Colombian natural cosmetics brand Logo del Sur to acquire a majority stake. It also announced plans to acquire independent Swedish fragrance label Byredo.
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Puig Restructures, Outlines Growth Strategy
The group has laid out an ambitious plan to return to growth with a goal to rebound swiftly from the pandemic and surpass €4 billion in sales by 2025.
