Mankind Pharma invests for majority stake in Upakarma Ayurveda
Mankind Pharma has acquired a majority stake in Upakarma Ayurveda, an Ayurvedic wellness, beauty and personal care brand. The Indian multinational pharmaceutical business made the acquisition through an undisclosed amount and announced the deal on November 28.
“The current lifestyle has become more strenuous where people find it difficult to focus on their health,” said Mankind Pharma’s vice chairman and managing director Rajeev Juneja in a statement on November 28, the Press Trust of India reported. “As Mankind Pharma works towards improving the healthcare of people, we have associated with Upakarma Ayurveda in order to cater to the emerging needs of consumers.”
Mankind Pharma acquired Upakarma Ayurveda through one of its subsidiaries, ET Bureau reported. Through the partnership, Upakarma Ayurveda aims to expand its product selection to offer a wider range of goods and promote Ayurvedic solutions across the country.
Upakarma Ayurveda forayed into the beauty and personal care category in January, 2020. The brand launched a line of hair oils, shampoos, and face serums among other products and has continued to build on its beauty offering over the past two and a half years. New launches by the brand include rose water and aloe vera skincare products which retail on its dedicated e-commerce store as well as on multi-brand online marketplaces.
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