Emami Acquires Majority Stake in IncNut, Parent Company of Vedix and SkinKraft
FMCG major Emami to acquire majority stake in Vedix, SkinKraft parent co IncNut
The Economic Times
Image: The Economic Times
Emami Ltd, a Kolkata-based FMCG company, is acquiring a 60% stake in IncNut Digital Pvt Ltd, the parent company of beauty brands Vedix and SkinKraft, for ₹321 crore (approximately $39 million USD). This acquisition aims to strengthen Emami's position in the growing personalized beauty market.
- 01Emami is acquiring a 60% stake in IncNut Digital for ₹321 crore.
- 02The remaining 40% will be acquired over the next four and a half years.
- 03IncNut Digital's sales have been declining, with ₹175 crore reported for 2024-25.
- 04Emami aims to enhance its presence in the personalized beauty and personal care segment.
- 05The partnership is expected to accelerate innovation and market reach for Vedix and SkinKraft.
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Emami Ltd, a major player in the fast-moving consumer goods (FMCG) sector based in Kolkata, is set to acquire a 60% stake in IncNut Digital Pvt Ltd for ₹321 crore (approximately $39 million USD). IncNut owns the direct-to-consumer beauty brands Vedix and SkinKraft. The deal will allow Emami to enhance its footprint in the rapidly growing personalized beauty and personal care market. Emami plans to acquire the remaining 40% stake over the next four and a half years, with the price contingent on future performance. IncNut Digital, headquartered in Telangana, reported sales of ₹175 crore for the fiscal year 2024-25, although its sales have been declining in recent years. Emami's vice chairman, Harsha Vardhan Agarwal, emphasized the strategic importance of this investment, highlighting the shift in consumer preferences towards personalized and effective beauty solutions. Chaitanya Nallan, founder and CEO of IncNut Digital, expressed optimism about the partnership, stating that it will enable faster innovation and broader market reach for Vedix and SkinKraft.
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This acquisition could lead to enhanced product offerings and innovation in personalized beauty, potentially benefiting consumers looking for tailored beauty solutions.
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