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Honasa Consumer Pvt. Ltd (HCPL), the parent company of Mamaearth, and The Derma Co has acquired Dr Sheth’s, a dermatologist-formulated premium skincare brand for ₹28 crore.
Through this acquisition, HCPL has control of the majority stake in Dr Sheth’s. The primary round of funds will be directed to accelerate future growth of the brand. The brands’ product portfolio has solutions for skin concerns such as 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.
Specialised skincare
With over 30+ SKUs, the brand has catered to over 2 lakh consumers. The expertise of Dr Sheth’s in creating specialised skincare for Indian consumers, coupled with the digital expertise of HCPL, is said to 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, . Aneesh Sheth will continue to lead the business and product innovation for the brand.
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Becomes the first unicorn of 2022 at a valuation of $1.2 bn, plans to use the recent funding to expand in international marketsVarun 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 building the brand and its product portfolio. Being a house of brands, Honasa Consumer . has attained expertise in building millennial brands with a digital-first approach. We will utilise 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 crore run rate brand in two years. HCPL and Dr Sheth’s synergise 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.”
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 optimise our innovation and bring about a great range of skincare that combines the best of both worlds - science and nature. “
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