Puig buys Indian beauty brand Kama Ayurveda to internationalize it

Puig advances in its international acquisition strategy with the aim of consolidating itself as one of the main global groups in the perfumery sector and reaching a turnover of 4.5 billion in 2025. After acquiring the Colombian company Loto del Sur in July, specialized in natural cosmetic products, it has now acquired a majority stake in the beauty brand Kama Ayurveda, which has a network of 54 own stores in India.

The Barcelona-based family group had already entered Kama Ayurveda's capital with a minority stake in 2019 and has now increased its investment to take control of the New Delhi firm and internationalize it, with plans to bring it to the United Kingdom in 2023. Founded in 2002, Kama Ayurveda develops beauty, wellness, and personal care products based on the principles of so-called Ayurveda medicine, which aims to achieve balance between mind, body, and spirit.

"We are delighted to strengthen our alliance with Kama Ayurveda, which has become a leading brand in India, earning the loyalty of millions of demanding consumers in the beauty sector with sustainable lifestyle and skin care products made with plant-based ingredients," highlighted Marc Puig, president and CEO of Puig. According to the executive, with this operation, the group reaffirms its commitment to the Indian market, which has "enormous growth potential" in the cosmetics field.

"India represents an incredibly exciting opportunity for Puig, and with this investment, we will continue our strategy of consolidating Kama Ayurveda's strong presence in the Indian domestic market and seeking attractive opportunities in key markets on the international scene," added the businessman.

Kama Ayurveda's goal is to exceed 60 points of sale in India by the end of 2022 and now, hand in hand with Puig, it will make the international leap by establishing itself in the United Kingdom and other countries starting in 2023. "By leveraging Puig's vast experience in supporting founders and developing international beauty and skin care brands, together we will bring the experience of authentic Ayurvedic beauty and wellness to new audiences," emphasizes Vivek Sahni, co-founder and CEO of Kama Ayurveda.

In this acquisition strategy of unique and differentiated brands, such as Charlotte Tilbury, Puig has also bought this summer Loto del Sur ---which has more than 20 stores in Colombia---, where it also took a minority stake three years ago. Again, it has set out to support the brand's growth in Latin America and boost its internationalization, with plans to open stores in Madrid and Miami.

Puig recorded historical sales of 2,585 million euros in 2021, up 68%, thanks to increased consumption in the United States and China. After recording losses of 70 million in 2020 due to the impact of the pandemic, the company obtained a profit of 234 million last year. 73% of 2021 turnover came from fragrances; 16% from makeup and 11% from dermo-cosmetics. Among the main brands of the Catalan company are Carolina Herrera, Nina Ricci, Paco Rabanne, Jean Paul Gaultier, Dries Van Noten, Penhaligon's, Artisan Parfumeur Uriage, Apivita and Isdin (50%). The company's goal is to close 2022 with revenues of 3,000 million, one year ahead of schedule in its initial plan.