Monday, May 16, 2022

Honasa Consumer Acquires Majority Stake In Skincare Brand Dr Sheth's

Honasa Consumer Pvt. Ltd. (HCPL), the parent company of Mamaearth, and The  Derma Co., and the fastest-growing House of Brands for personal care, has acquired Dr. Sheth’s, a  dermatologist-formulated premium skincare brand designed exclusively for Indian skin by three  generations of skin doctors. Through this acquisition, HCPL has control of the majority stake in Dr. Sheth’s  at a valuation of INR 28 Cr. The primary round of funds will be directed to accelerate future growth of the  brand.  H

The products of Dr Sheth’s have been developed with expertise accrued by 3 generations of accomplished cosmetologists and dermatologists. Dr. Sharat Desai, probably India’s first dermatologist, worked to put  India on the map for the field of dermatology. Following in the father’s footsteps, his daughter, Dr. Rekha  Sheth, became India’s first cosmetic dermatologist and one of the preferred dermatologists by Bollywood  celebrities. Dr. Aneesh Sheth, PhD Pharmacology and an Ivy league trained cosmetic scientist, 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. 

The products are formulated knowing that Indian skin is unique and requires specialized care. The brands’  product portfolio has solutions for skin concerns like pigmentation, acne, dryness, wrinkles, and many  others. Some of the popular products by the brand are -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.  

Millennials are evolving and there is a growing appreciation for sophisticated ingredients. While they seek  comfort in traditional Indian ingredients in skincare, they also want to go beyond the conventional and  experiment. Dr. Sheth's has identified this void and created a portfolio of products that blend natural  ingredients with science-based active ingredients, providing the best of both worlds. With a digital-first  approach Honasa Consumer Pvt. Ltd. (HCPL) has established its leadership in understanding millennial  consumer behavior and launching and successfully scaling consumer brands with a strong millennial  connect. 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 and further strengthen the  leadership of HCPL in digital-first brands.  

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

Commenting on the acquisition, Varun Alagh, Co-Founder and CEO, Honasa Consumer Pvt. Ltd. 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. It will be a symbiotic relationship  wherein there will be knowledge sharing across brands and collaboratively build the brand and its product  portfolio. Being a house of brands, Honasa Consumer Pvt. Ltd. has attained expertise in building millennial  brands with a digital-first approach. We will utilize our expertise and proficiency in digital marketing to  accelerate the growth and scale growth for Dr. Sheth’s and we are confident that we will make it a 100 Cr  run rate brand in 2 years. HCPL & Dr. Sheth’s synergize on fundamental ideologies of distinctive product  innovation and strong millennial connect, we are confident this collaboration will be a success for  consumers and for both brands.” 

Honasa Consumer Pvt. Ltd. has established itself at the forefront of digital branding and marketing and  this acquisition will further strengthen the company’s strength in the millennial personal care segment.  

Commenting on the partnership Aneesh Sheth 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 optimize our innovation and bring  about a great range of skincare that combines the best of both worlds - science and nature. “  

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