Honasa buys majority stake in skincare co Dr Sheth's at Rs 28 cr valuation

The founder of Dr Sheth's will continue to lead the business and product innovation

Honasa Consumer Pvt. Ltd. (HCPL), the parent company of Mamaearth and The  Derma Co., and the house of brands for personal care, has acquired Dr Sheth’s, a  premium skincare brand. Through this acquisition, HCPL has control of the majority stake in Dr. Sheth’s at a valuation of Rs 28 crore. The primary round of funds will be directed to accelerate the future growth of the brand.

While HCPL has control of the majority stake in Dr Sheth’s,  the firm’s founder Dr Aneesh Sheth will continue to lead the business and product innovation for the brand.

“We will utilize our expertise and proficiency in digital marketing to accelerate the growth and scale growth for Dr. Sheth’s,” said Varun Alagh, co-founder and CEO, Honasa Consumer Pvt. Ltd. “We are confident that we will make it a Rs 100 crore  run rate brand in 2 years.”

The expertise of Dr Sheth’s in creating specialized skincare for Indian consumers, coupled with the digital expertise of HCPL, will help scale the business of Dr. Sheth’s. This will further strengthen the leadership of HCPL in digital-first brands.

Commenting on the partnership Aneesh Sheth said “Their experience as a house of brands will also help us optimize our innovation and bring about a great range of skincare that combines the best of both worlds - science and nature,” said Dr Aneesh Sheth, founder of Dr Sheth’s.

Dr Aneesh Sheth, a PhD in Pharmacology and a trained cosmetic scientist, founded Dr Sheth’s with the ambition of formulating skincare products using the knowledge aggregated over three generations.

The products are formulated knowing that Indian skin is unique and requires specialized care. The brand’s product portfolio has solutions for skin concerns like pigmentation, acne, dryness and wrinkles. Some of the popular products by the brand are -Amla VC20 Vitamin C Serum, Haldi and Hyaluronic  Acid Sleeping Mask, and Cica and Ceramide Overnight Repair Serum. The brand has catered to over 200,000 consumers.