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The Estée Lauder Companies has announced plans to acquire the remaining 51% stake in Forest Essentials, taking full ownership of the premium skincare brand as global beauty majors sharpen their focus on India—one of the world’s fastest-growing beauty markets.
The US-based group, which owns leading brands such as MAC Cosmetics, Bobbi Brown and Clinique, first invested in Forest Essentials in 2008 and later increased its stake to 49% in 2020.
“I think today marks an inflection point — both for the maturity of the brand and for the acceleration of prestige beauty in India," highlights Estée Lauder’s global CEO Stéphane de La Faverie.
He noted that prestige beauty currently accounts for only about 10% of India’s total beauty market but is growing significantly faster than mass segments.
The deal underscores how global cosmetics companies are accelerating investments in India, driven by rising disposable incomes, a youthful consumer base and the rapid expansion of digital retail.
Major industry players, including L'Oréal, Unilever and Shiseido, have also strengthened their presence in recent years, betting that India will emerge as a key growth engine for the global beauty industry.
Within the portfolio of The Estée Lauder Companies, Forest Essentials is expected to play a strategic role with its Ayurvedic positioning, particularly as wellness-driven beauty continues to gain momentum among consumers.
“Our shared mission has always been to establish Luxury Ayurveda as a globally respected pillar of modern beauty," said Mira Kulkarni, founder and managing director of Forest Essentials. Kulkarni said the brand will continue strengthening its operations in India while expanding internationally.
Following the pandemic, consumer demand has shifted toward wellness-focused, high-performance products. Combining traditional Ayurvedic formulations with modern luxury skincare could resonate strongly with both domestic and international consumers, La Faverie added.
“I believe this is the perfect partnership that will allow us to support India — not just for India itself, but also for the world," he said.
The acquisition could also help expand Estée Lauder’s manufacturing and research footprint in India. The company said it is exploring partnerships to localise production across its portfolio while continuing to leverage Forest Essentials’ existing research, development and manufacturing capabilities in the country.
“We are accelerating our manufacturing with local partners and expect to be ready within the next year," La Faverie said. He added that the partnership would help Estée Lauder become not only a distributor of its brands in India but also a manufacturing and R&D hub.
Despite operating in India for more than two decades, the market still contributes less than about 1% to Estée Lauder’s global revenue. However, the company views the country as a long-term strategic opportunity.
“There are very few prestige brands that have had the longevity and level of investment that we have had in India," La Faverie said.
