The Estée Lauder Companies Inc. today announced that it has purchased a minority stake in a privately held Indian company that manufactures, markets and sells beauty products, under the Forest Essentials brand, which are based on Ayurvedic formulations. Terms of the agreement were not disclosed.
Forest Essentials uses pure essential oils and natural plant extracts in its range of skin, body and hair care products. Its portfolio of is sold in the company's seven freestanding stores and in high-end hotels and spas across India.
"Forest Essentials gives us a stronger presence in the rapidly expanding prestige beauty business in India," said William P. Lauder, CEO of The Estée Lauder Companies in a company press release. The purchase will also allow Estée Lauder to expand its natural offering. Likewise, Forest Essentials reportedly will benefit from Estée's global presence and expertise in marketing.
The Estée Lauder Companies began selling its products in India in July 2005 with the opening of a freestanding MAC store in Mumbai. Currently it sells six brands in India, including MAC, Tommy Hilfiger, Donna Karan, Aramis, Clinique and most recently Estée Lauder. For more information, visit www.elcompanies.com/corporate_newsroom/news_releases/news_release.asp?compid=109458&releaseID=1176517.