India: Emami to acquire majority stake in Incnut Digital

Emami, the Indian personal care and FMCG specialist, has entered into an agreement to acquire a 60% majority stake in Incnut Digital, a digital-first beauty and wellness company, for 321 crore INR ($38.4 million).

The transaction is structured in two tranches, with Emami initially acquiring a 45.4% stake for 242.9 crore INR ($29.1 million), before increasing its total holding to 60% by October 2026. Incnut Digital is the parent firm of SkinKraft, a brand providing AI-based dermatological solutions, and Vedix, which focuses on customised Ayurvedic beauty products. The business reported a turnover of 232 crore INR ($27.8 million) for the 2023-24 financial year.

The deal follows Emami’s previous involvement with the startup in 2022, when it first secured a 20.6% minority interest. According to the company, the acquisition aligns with its strategy to expand its presence in the high-growth direct-to-consumer (D2C) and premium personal care segments.

Emami stated that the partnership would leverage its extensive distribution network and marketing expertise to scale Incnut Digital’s brands further in both domestic and international markets.

Source: Business Standard / Global Cosmetics News / MultiBagg