Estée Lauder to acquire full ownership of Forest Essentials, exiting minority stake for control
Estée Lauder Companies will buy out the remaining stake in New Delhi-based luxury Ayurvedic brand Forest Essentials, converting its minority position into full ownership. Deal is slated to close in H2 CY2026, with the brand retaining its Ayurvedic identity while pursuing global expansion under EL's platform.
What happened
Estée Lauder agreed to acquire the remaining stake in Indian luxury Ayurvedic brand Forest Essentials, moving from minority investor to full owner. Deal closes
Why this matters
Staged minority-to-control template validates patient stake-building in emerging-market premium brands, raising comps for India luxury beauty assets ahead of 2026 close.
What to watch
- CCI/regulatory approval timing in H1 CY2026
- EL Q4 FY26 earnings commentary on emerging markets prestige
- Forest Essentials new market launches (Sephora US doors, Harrods)
- Competing bids or counter-M&A in Indian premium beauty (Forest Essentials peers)
- Pricing architecture changes in Indian market post-close
- Map competitor response: L'Oréal/Shiseido likely to scout Kama Ayurveda, Forest Essentials peers, or Just Herbs follow-on
- Track EL's travel retail SKU allocation shifts in FY27 guidance
- Watch for Forest Essentials founder Mira Kulkarni's post-close role and earn-out structure
- Model Ayurvedic category TAM in US prestige beauty vs current sub-1% share
Also reported by
- Moneycontrol · Results — Same time
- Moneycontrol · Results — Same time