Mamaearth’s parent company, Honasa Consumer acquired a majority stake in skincare brand Dr. Sheth’s at a valuation of INR 28 crore.
Dr. Sheth's is a skincare company that primarily caters to the Indian market. The new funds will be used to expand Dr. Sheth's business and to strengthen Honasa Consumer's leadership. Honasa Consumer will invest more money in expanding its product offerings. Furthermore, the acquisition will assist Honasa Consumer in strengthening its position in the personal care sector. Honasa Consumer also intends to make Dr. Sheth's an INR 100 Cr run rate brand within the next two years. As part of the agreement, Dr. Aneesh Sheth will continue to lead Dr. Sheth's business and product innovation.