Lotus Herbals enters the Ayurvedic beauty space
India-based beauty & care Company, Lotus Herbals has declared its acquisition of Vedicare Ayurveda, owner of the SoulTree brand that gives organic make-up and skin-care products. the corporate with this acquisition has set to expand and enter the premium Ayurvedic wellness and wonder industry. SoulTree is understood to be the primary Indian brand to be formally certified, annually, by European Certification Agencies.
“We are scanning the marketplace for a premium certified organic Ayurvedic brand that resonates with modern consumers and SoulTree checked all the boxes.” said Nitin Passi, Joint director of Lotus Herbals. Commenting on the acquisition Nitin Passi stated, “It’s a fantastic brand with a terrific soul which is made on the pillars of ethical beauty, sustainability, Ayurveda and prestigious international organic certifications. It’s a well thought out strategic move for Lotus and SoulTree finds a perfect home at Lotus Herbals.
We are sure consumers everywhere India and thus the planet will fall crazy with SoulTree.” “While charting out the course for future growth of SoulTree, I wont to be trying to seek out a partner who would also preserve the ethos of the brand.” said Vishal Bhandari, founder SoulTree. He further added “Lotus Herbals could also be a family owned business and features a history of innovation with botanicals, making it a natural match. I’m confident that under the management of Lotus Herbals, SoulTree will grow to be the leading Organic Ayurvedic brand in India and internationally, while remaining firmly rooted in principles of sustainability.”
SoulTree, which trades organic make-up and skin-care products, has an offline presence in over hundred outlets in India and international markets including Europe, Japan and South East Asia, it said. SoulTree claims to be the only brand in India to be certified annually by European Certification Agency BDIH of Germany. Lotus Herbals had begun a proper process of scouting for mid-sized acquisitions mid last year. The New Delhi-based company was also considering offloading a minority stake within the corporate or roping during a private equity investor to fund the acquisition. Nitin Passi said the strategic buy-out will give Lotus captive footprint within the rapidly growing Ayurveda space. they’re going to maintain independent brand identities for SoulTree and Lotus,
Lotus competes aggressively with Procter & Gamble’s Olay, L’Oreal and Hindustan Unilever’s Pond’s within the premium skin-care space. Its share of 27% within the Rs 2,000 crore premium skin-care segment, industry executives said, citing data by researcher Nielsen. apart from the Lotus franchise, the company sells high-end skincare products under the brand Ikkai, the acquisition by Lotus Herbals would pave the way for SoulTree to become a number one organic Ayurvedic brand in India and globally.
Sales of cosmetics and make-up categories are severely hurt within the primary few months of the nationwide lockdown, called by the government amidst Covid-19 in March-end to curb the spread of the Covid-19 virus. However, with curbs being gradually eased over the past month,