Estée Lauder Takes Full Control of Forest Essentials in India Ayurveda Bet
ELC converts its 2020 minority position into a full buyout of Forest Essentials, India's top luxury skincare brand. The Ayurvedic player posted FY25 revenue of ₹5.8bn ($63m) and ₹2.8bn EBITDA across ~200 stores, anchoring ELC's push into a $10bn India beauty market.
Estée Lauder agrees to fully acquire Ayurvedic luxury skincare brand Forest Essentials, founded by Mira Kulkarni, after holding 49% since 2020. Brand has ~200 stores, FY25 revenue of ₹5.8bn, and remains India's top skincare label.
Why this matters
ELC first took a minority position in Forest Essentials in 2020. The full buyout escalates that bet, signaling conviction in Ayurvedic luxury and giving ELC a controlled retail footprint of ~200 stores in India.
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