Mamaearth parent Honasa Consumer buys majority stake in skincare brand Dr. Sheth's

Honasa Consumer Pvt. Ltd. (HCPL), the parent company of Mamaearth and The Derma Co., on Monday, announced it has acquired a majority stake in skincare brand Dr. Sheth’s. Honasa Consumer, through this acquisition, has received control of the majority stake in Dr. Sheth’s at a valuation of Rs 28 crore.

Varun Alagh, co-Founder and CEO, Honasa Consumer, while commenting on the acquisition, said, "Dr. Sheth’s is a brand that is synonymous with heritage and legacy, and we are excited about this partnership as it will help us widen our portfolio offerings under the HCPL umbrella.”

Honasa Consumer, in a company statement, said that the primary round of funds will be directed to accelerate the future growth of the brand. While Honasa Consumer has control of the majority stake in Dr. Sheth’s, founder Aneesh Sheth, who has a PhD in Pharmacology, will continue to lead the business and product innovation for the brand.

Sheth, while commenting on the partnership, said, "We are very excited about the partnership with HCPL - they bring a level of operational excellence that will make our expertise and our products accessible to a wider community. Their experience as a house of brands will also help us optimise our innovation and bring about a great range of skincare that combines the best of both worlds - science and nature."

Sheth has founded Dr. Sheth’s with the ambition of formulating skincare products using the knowledge aggregated over three generations and bringing the best of nature and science together, claims the company statement.

Dr. Sheth’s products portfolio consists of Amla VC20 Vitamin C Serum, Haldi and Hyaluronic Acid Sleeping Mask, Cica and Ceramide Overnight Repair Serum, among others. With over 30+ SKUs, the brand has catered to over 200,000 consumers, it claims.

Dr. Sheth’s, which was founded in 2017, distributes its products through various e-commerce channels and its direct-to-consumer website. On the other hand, Honasa Consumer was founded by Varun Alagh and Ghazal Alagh.

The products, Dr Sheth's says, are formulated to suit Indian skin. The brand’s product portfolio has solutions for skin concerns like pigmentation, acne, dryness, wrinkles, and many other conditions. With over 30 SKUs (stock-keeping units), the brand has claims to have served more than 200,000 consumers.

As per the statement, The expertise of Dr. Sheth’s in creating specialised skincare for Indian consumers, coupled with the digital expertise of Honasa Consumer, will help scale the business of Dr. Sheth’s and further strengthen the leadership of Honasa Consumer as a digital-first brand.

Honasa also claims that it has established itself at the forefront of digital branding and marketing and that this acquisition will further strengthen the company’s strength in the millennial personal care segment.