US beauty major Estee Lauder to acquire Ayurveda brand Forest Essentials

Forest Essentials headquarters to remain in Delhi; founder Mira Kulkarni to continue leading it

American beauty major the Estée Lauder Companies is set to acquire Forest Essentials. The company said it has entered into an agreement to buy the remaining interests in the Indian luxury Ayurveda brand, subject to regulatory approvals, with the transaction expected to close in the second half of 2026.

 

Founded in 2000 by entrepreneur Mira Kulkarni, Forest Essentials will continue to be led from India even after the acquisition. Kulkarni will remain at the helm of the brand, with its headquarters staying in New Delhi, and her son, executive director Samrath Bedi, continuing in his leadership role.

 

“The brand will maintain its fully integrated operational ecosystem in India, spanning research and development and in-house manufacturing,” Estée Lauder said.

 

Stéphane de La Faverie, President and Chief Executive Officer of the Estée Lauder Companies, told Business Standard that the acquisition will not alter the identity of Forest Essentials. The brand name, product strategy and price positioning will remain unchanged, with Kulkarni and her team continuing to develop the portfolio and guide its strategy.

 

“Our philosophy is always to honour and respect the brand DNA,” de La Faverie said. “What we will bring is the operational scale to help the brand reach the next level.”

 

The acquisition is also strategically significant for the US beauty conglomerate’s global footprint. Combining Forest Essentials with Estée Lauder’s existing portfolio will make India the company’s largest emerging market, he said.

 

For Estée Lauder, which celebrates its 80th anniversary this year, the move builds on a relationship that began with a minority investment in 2008, which was increased to 49 per cent in 2020.

 

“This marks a meaningful new chapter in a partnership built over the past 18 years,” de La Faverie said.

 

Kulkarni said Estée Lauder brings both expertise and respect for the brand’s origins. “They understand that our cultural roots and Indian-based operations are central to our success,” she said, expressing confidence that the company will prove to be “a partner who sees our Indian identity not as a limitation, but as our greatest strength”.

 

Forest Essentials currently operates nearly 200 freestanding stores across India, and its net sales are projected to grow in the low double digits.

 

De La Faverie said the acquisition is aimed at scaling the brand globally while preserving its Indian identity.

 

“Forest Essentials is an exceptional brand, beloved in India,” he said, adding that the company aims to strengthen its leadership in the domestic market while introducing it to a wider international audience.

 

“We see Indian beauty as a growing force not only for India but for the world,” he said. “The plan is to support India for India, and India for the world.”

 

The Estée Lauder Companies sells products in about 150 countries and has been present in India for more than two decades. It currently operates 14 of its 20 brands in the Indian market across skincare, makeup and fragrance.

 

Of its overall brands, four were created in-house, while the rest are acquisitions or partnerships.

 

Drawing a parallel between Kulkarni and the company’s founder, de La Faverie said, “Entrepreneurial spirit lives at the heart of our company… Mira reminds me of Estée Lauder, a visionary entrepreneur with a deep passion for her brand.”