Honasa Consumer Pvt Ltd (HCPL), the parent company of Mamaearth, and The Derma Co, has acquired Dr Sheth’s, a dermatologist-formulated premium skincare brand designed exclusively for Indian skin.
Through this acquisition, HCPL has control of the majority stake in Dr. Sheth’s at a valuation of Rs 28 crore. The primary round of funds will be directed to accelerate future growth of the brand.
The products of Dr Sheth’s have been developed with expertise accrued by 3 generations of accomplished cosmetologists and dermatologists. Dr Sharat Desai, worked to put India on the map for the field of dermatology. Following in the father’s footsteps, his daughter, Dr Rekha Sheth, became India’s first cosmetic dermatologist and one of the preferred dermatologists by Bollywood celebrities. Dr Aneesh Sheth, PhD Pharmacology and an Ivy league trained cosmetic scientist, founded Dr. Sheth’s with the ambition of formulating skincare products using the knowledge aggregated over three generations and bringing the best of nature and science together.
The brands’ product portfolio has solutions for skin concerns like pigmentation, acne, dryness, wrinkles, and many others. As per it, with over 30+ SKUs, the brand has catered to over 200,000 consumers.
The expertise of Dr. Sheth’s in creating specialised skincare for Indian consumers, coupled with the digital expertise of HCPL, will help scale the business of Dr Sheth’s and further strengthen the leadership of HCPL in digital-first brands.
While HCPL has control of the majority stake in Dr Sheth’s, Dr Aneesh Sheth will continue to lead the business and product innovation for the brand.
Varun Alagh, Co-Founder and CEO, HPCL, said, “Dr Sheth’s is a brand that is synonymous with heritage and legacy, and we are excited about this partnership as it will help us widen our portfolio offerings under the HCPL umbrella. It will be a symbiotic relationship wherein there will be knowledge sharing across brands and collaboratively build the brand and its product portfolio. Being a house of brands, Honasa Consumer Pvt Ltd has attained expertise in building millennial brands with a digital-first approach. We will utilise our expertise and proficiency in digital marketing to accelerate the growth and scale growth for Dr Sheth’s and we are confident that we will make it a 100-crore run rate brand in 2 years. HCPL and Dr Sheth’s synergise on fundamental ideologies of distinctive product innovation and strong millennial connect, we are confident this collaboration will be a success for consumers and for both brands.”
Aneesh Sheth said, “We are very excited about the partnership with HCPL - they bring a level of operational excellence that will make our expertise and our products accessible to a wider community. Their experience as a house of brands will also help us optimise our innovation and bring about a great range of skincare that combines the best of both worlds - science and nature.”