Estée Lauder acquires full stake in Forest Essentials, strengthens India presence

New Delhi: The The Estée Lauder Companies has entered into an agreement to acquire the remaining stake in Forest Essentials, the Indian luxury Ayurvedic beauty brand. The transaction is subject to regulatory approvals and is expected to close in the second half of 2026.

The development builds on an 18-year partnership between the two companies. Estée Lauder first made a minority investment in Forest Essentials in 2008 and later increased its stake to 49% in 2020.

Founded in 2000 by Mira Kulkarni, Forest Essentials focuses on beauty products rooted in Ayurvedic traditions and operates nearly 200 standalone retail stores across India. The brand’s operations include research and development based on Ayurveda, botanical sourcing, and in-house manufacturing.

Following the acquisition, Forest Essentials will continue to be headquartered in New Delhi and will operate under the leadership of Kulkarni and her son Samrath Bedi, who serves as executive director.

Estée Lauder said the transaction reflects its continued investment in India’s prestige beauty sector. The company currently operates 14 brands in the country across skincare, makeup, fragrance and hair care.

Stéphane de La Faverie, President and Chief Executive Officer, The Estée Lauder Companies, said:
“Today marks a meaningful new chapter in a partnership built over the past 18 years on a foundation of mutual trust and respect. Forest Essentials is an exceptional brand, beloved in India and created and nurtured by its founder, Mira Kulkarni. Entrepreneurial spirit lives at the heart of The Estée Lauder Companies, and we have a deep, inherent appreciation for the vision and tenacity required to build a brand of this caliber. We are honored to strengthen our partnership with Mira, who, like Mrs Estée Lauder, has elevated the prestige beauty industry through a clear vision of authenticity and purpose.

“This next phase of partnership reflects our long-term commitment to India, one of our largest and most significant emerging markets, and our conviction in the global resonance of this remarkable brand. Together, our ambition is clear: to further strengthen the brand’s leadership at home while thoughtfully introducing it to a global audience. We are committed to expanding this reach without compromising the integrity, craftsmanship, and cultural soul that define Forest Essentials, and look forward to supporting Mira and her son Sam in the brand’s exciting future.”

Mira Kulkarni, Founder and Managing Director, Forest Essentials, said, “Over the past 25 years, we have built this brand with an uncompromising commitment to the authenticity, craftsmanship and wisdom of our heritage. For me, what has always set The Estée Lauder Companies apart is their profound respect for a founder’s vision; they understand how to preserve a brand’s soul while providing the global expertise needed to scale.

“Our shared mission has always been to establish Luxury Ayurveda as a globally respected pillar of modern beauty. Ayurveda is not folklore; it is a sophisticated system of science, ritual, and holistic wellbeing. By combining our heritage with the operational strength of The Estée Lauder Companies, we have the opportunity to bring this wisdom to a global audience, presented with the same integrity, elegance, and uncompromising standards that define Forest Essentials today. This next phase is about continuity and growth. We continue to lead the brand from India, strengthening our operational excellence and commitment to our Indian consumers, while thoughtfully expanding internationally.”

The company said the acquisition forms part of its broader strategy of investing in founder-led beauty brands with strong cultural roots. Estée Lauder has also supported entrepreneurship in the Indian beauty ecosystem through initiatives such as BEAUTY&YOU India, which supports emerging beauty entrepreneurs.