Honasa Consumer acquires majority stake in skincare brand Dr. Sheth’s
Honasa Consumer (HCPL), the parent company ofand , on Monday, said that it has acquired skincare brand Dr. Sheth’s.
Through this acquisition, HCPL has control of the majority stake in Dr Sheth’s at a valuation of Rs 28 crore. The primary round of funds will be directed to accelerate the future growth of the brand. Aneesh Sheth, founder of Dr. Sheth's, will continue to lead the business and product innovation for the brand, according to a press release.
Commenting on the partnership, Aneesh said, "We are very excited about the partnership with HCPL - they bring a level of operational excellence that will make our expertise and our products accessible to a wider community. Their experience as a house of brands will also help us optimise our innovation and bring about a great range of skincare that combines the best of both worlds - science and nature.“
The expertise of Dr. Sheth’s in creating skincare products for Indian consumers, coupled with the digital expertise of HCPL, will help scale the business of Dr. Sheth’s and further strengthen the leadership of HCPL in digital-first brands, the companies say.
Founded in 2017, Dr. Sheth's distributes through various e-commerce channels and its direct-to-consumer website. Aneesh, who has a PhD in Pharmacology, says he founded the skincare brand with the aim of making products using the knowledge aggregated over three generations and bringing the best of nature and science together.
The products, Dr. Sheth's says, are formulated to suit Indian skin. With over 30 SKUs (stock-keeping units), the brand has claims to have served more than 200,000 consumers.
Mamaearth's product range
HCPL was founded by Varun Alagh and Ghazal Alagh in 2016.
Varun, Co-Founder and CEO, Honasa, said, "Dr. Sheth’s is a brand that is synonymous with heritage and legacy, and we are excited about this partnership as it will help us widen our portfolio offerings under the HCPL umbrella."