Mamaearth parent HCPL acquires majority stake in skincare brand Dr. Sheth’s
- Dr. Sheth's product portfolio has solutions for skin concerns like pigmentation, acne, dryness, wrinkles, and many others
Honasa Consumer Pvt Ltd, which owns Mamaearth and The Derma Co, has now acquired a majority stake in skincare brand Dr. Sheth's, the company said Monday. The acquisition happened at the valuation of ₹28 crore. HCPL had joined the unicorn club last year after it raised USD 52 million (about ₹400 crore) in the latest funding round.
Dr. Sheth's product portfolio has solutions for skin concerns like pigmentation, acne, dryness, wrinkles, and many others. With over 30 SKUs, the brand has catered to over 2,00,000 consumers.
"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," it said in a statement.
Varun Alagh, HCPL Co-Founder and CEO, said, "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."
Meanwhile, 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."
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