Wipro Consumer Care to acquire Philippines’ S Brands, adding KERATINplus

Wipro Consumer Care & Lighting will acquire S Brands Consumer Care Inc, adding Splash, KERATINplus and hygiene labels to its Philippines business. KERATINplus holds a 45% share of the country’s hair-conditioner market; Wipro expects the Philippines to become its third-largest overseas market, with revenue exceeding ₹1,000 crore.

— Source publishedTue, 21 Jul, 2026, 15:02 IST·First seen Tue, 21 Jul, 2026, 15:07 IST·Source The Hindu BusinessLine

What happened

Wipro Consumer Care & Lighting · Wipro Consumer Care will acquire Philippines-based S Brands to expand its personal-care portfolio and Southeast Asia scale. The

Key facts

  • 16th acquisition globally
  • second acquisition in the Philippines
  • FY26 revenue: ₹10,800 crore
  • India business growth: 15.1% in June quarter/Q1FY27
  • over $1 billion spent on acquisitions
  • Philippines expected to be third-largest overseas market with revenue exceeding ₹1,000 crore
  • KERATINplus holds 45% Philippines hair-conditioner market share
  • FY26 consolidated revenue growth: 9.3%
  • Q3 growth: 12.7%
  • Q4 growth: 10.1%
  • Q1FY27 consolidated growth: 17.4%

Why this matters

As Wipro’s 16th global acquisition and second in the Philippines, S Brands demonstrates a repeatable bolt-on M&A strategy focused on locally dominant personal-care portfolios.

What to watch

  • Closing timeline, transaction valuation and any regulatory conditions.
  • Post-acquisition sales growth and market-share trends for KERATINplus, especially versus promotional competitor activity.
  • Philippines revenue trajectory toward the stated ₹1,000 crore threshold.
  • Gross-margin movement from procurement synergies versus advertising, trade-spend and integration costs.
  • Distribution expansion in modern trade, e-commerce, pharmacies and provincial outlets.
  • Evidence of new product launches or regional export expansion from the acquired brand portfolio.
  • Retain S Brands' local commercial and brand-management leadership while integrating procurement, finance and supply-chain functions.
  • Expand KERATINplus into adjacent hair-treatment, shampoo and salon-oriented formats using Wipro's regional sourcing and innovation capabilities.
  • Bundle Splash, KERATINplus and hygiene brands in modern trade, pharmacies, beauty stores and e-commerce to improve shelf access and distributor economics.
  • Use the enlarged Philippines base as a Southeast Asian export and product-testing hub, subject to brand relevance and regulatory approvals.
  • Prioritize premiumization and pack-price architecture to protect conditioner-market share without relying solely on discounting.