Lotus Herbals acquires 32 percent stake in Fixderma
Beauty and cosmetics major Lotus Herbals has acquired a 32 percent stake in Fixderma India, owners of Fixderma and FCL brands.
With this acquisition, Lotus Herbals has strengthened its presence in the skincare and haircare segment. It plans to make deep inroads with Fixderma and capture a large share of the market in this segment over the next five years.
Last year, Lotus Herbals acquired Delhi-based cosmetic maker Vedicare Ayurveda Pvt Ltd, owner of the Soultree brand, for an undisclosed amount.
Commenting on the acquisition, Nitin Passi, joint managing director at Lotus Herbals, in a statement said: "Over the past 27 years Lotus has always been an innovation leader in the beauty industry. We are delighted to partner with Fixderma as their brand philosophy,ethics, and diversified range of world class dermaceutical products fit perfectly with the values and experimental blueprint of Lotus. With our strategic planning and marketing expertise, we aim at enhancing the global footprint for Fixderma and FCL and capture significant market share within the next five years as part of our long-term growth strategy.”
Anurag Mehrotra, chairman of Fixderma India Pvt Ltd, added: “Lotus Herbals has a strong and successful history in the beauty industry and we are confident that the expertise and experience Lotus Herbals brings will ensure greater success for our brands. Developments in the Indian skincare industry are exciting and challenging, especially in the e-commerce space however, the engagement level, passion and experiential resonance our customers have with our brands is amazing. We are thrilled to partner with Lotus to help strategically optimize this in a meaningful way."
Fixderma is a D2C brand and sells its products through dermatologists and pharmacies in India and overseas.
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