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Barcelona-based fashion and fragrance company Puig, which is known for its brands Nina Ricci, Jean Paul Gaultier, Dries Van Noten and Carolina Herrera, among others, has picked up a minority stake in Kama Ayurveda.
The family-owned Spanish company will pump in ₹100 crore in Kama Ayurveda to support its domestic and international expansion, as well as for its own India entry.
In a statement, Marc Puig, Chairman and CEO, said: “This long-term alliance gives us the ability to further develop our focus on the retail business worldwide and also to be present in a market with tremendous potential for beauty and personal care, as well as fragrances.”
Vivek Sahni, co-founder and CEO, Kama Ayurveda, said: “The ayurvedic beauty industry is on a fast-paced growth trajectory and this partnership with Puig will accelerate our growth, both on the domestic front and globally.”
Founded in 2002 by Sahni, Dave Chang, Rajshri Pathy and Vikram Goyal, Kama Ayurveda has 52 standalone and shop-in-shop retail outlets across India. Private equity firm Lighthouse Advisors has been an investor in Kama Ayurveda for the past five years.
Besides its own brands, Puig licenses other brands such as Prada and Christian Loubotin.
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