New Delhi: Beauty and personal care products company Lotus Herbals on Wednesday said it has bought a 32% stake in dermaceuticals maker Fixderma India.
The investment will give Lotus Herbals entry into the dermaceuticals segment in India through a range of skincare and haircare products. Such products typically plug the gap between prescription-based skin and hair products and over-the-counter cosmetics.
Fixderma, a largely internet-first brand, sells products under the Fixderma and FCL brand. Its range is also retailed through dermatologists and pharmacies in India.
This is Lotus Herbals’ second investment. In 2020, it bought a 100% stake in organic Ayurveda brand Soul Tree.
“With our strategic planning & marketing expertise, we aim at enhancing the global footprint for Fixderma and FCL and capture significant market share within the next five years as part of our long-term growth strategy,” said Nitin Passi, joint managing director, Lotus Herbals.
Lotus Herbals plans to maintain a distinctive brand identity for Fixderma and FCL in the domestic and international markets while planning the brand’s expansion and growth trajectory, it said.
Developments in the Indian skincare industry are exciting and challenging, especially in the e-commerce space, said Anurag Mehrotra, chairman, Fixderma India. “However, the engagement level, passion and experiential resonance our customers have with our brands is amazing. We are thrilled to partner with Lotus to help strategically optimize this in a meaningful way,” he added.
Fixderma researches, manufactures and markets dermatology products in India and exports them to over 35 countries across the globe.
The beauty and personal care market has seen a profusion of new brands as companies try and bridge the gap between more mass-market brands such as Olay, Lakme and Garnier and more premium skin-care products. Meanwhile, functional products such as Sebamed and Cetaphil, too have expanded their presence in the market.
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