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Spanish perfume maker, Puig ac...Spanish perfume maker, Puig acquires majority stake in Kama Ayurveda
The Silicon Review
14 September, 2022
Author:
The Silicon Review Team
Puig's investment into the brand will strengthen the company's wellness category
Puig, the Spanish perfume maker known for famous perfumes such as Carolina Herrera, Nina Ricci, and Paco Rabanne has acquired a majority stake in the ayurvedic brand, Kama Ayurveda Pvt. Ltd. which is a known brand for beauty and personal care products .The two firms declined to comment on the deal size, but in 2019, the perfume firm had invested ₹100 crores in Kama for a minority stake. Kama Ayurveda’s co-founder and chief executive Vivek Sahni said that it would add 10 stores this fiscal year to its existing 57 in India in locations like Thiruvananthapuram, Siliguri, Bareilly, Ranchi, Goa, and Jodhpur. The company is also planning to expand to the UK in 2023.
Puig's investment into the brand will strengthen the company's wellness category since Kama is operating in the 'Indian medical science of Ayurveda.' The company has assured that it will maintain its commitment to boost Kama's leadership in the Indian market and continue to support the further expansion of Kama Ayurveda into global markets as well as offering expertise in brand building, skincare technology, and perfumery.
