Future Group in talks to acquire Iraya
Iraya, the Ayurvedic beauty, hair, and spa brand, could soon be part of Kishore Biyani’s Future Group, sources close to the deal told the Economic Times. Neither Iraya nor Future Group have made official statements on the progress of the talks, however.
The talks come at a time where, fuelled by Patanjali’s great success in the natural beauty market, a host of Ayurvedic brands are growing in India. Now other fast moving consumer goods (FMCG) giants such as Hindustan Unilever, P&G, and Dabur are introducing and acquiring Ayurvedic beauty brands and product lines and so Future Group is seeking to buy into this trend that has no signs of slowing down.
Athena Life Sciences was launched in 2014 and was bought by the UK-based company Reckitt Benckiser in 2011. The business, based in Ahmedabad, owns the Iraya brand as well as others such as Hair for Sure and D’Free. Iraya’s product portfolio includes cold pressed hair oils, creams, body wash, and facial scrubs.
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