Estée Lauder acquires Forest Essentials as Indian beauty brands scale globally

The Estée Lauder Companies (ELC) has announced it will acquire the remaining stakes in Forest Essentials, an Indian beauty brand focused on Ayurvedic cosmetics. The acquisition will expand ELC’s current minority stake in the brand, giving it full ownership. 

The move reflects Estée Lauder’s strategy to strengthen its presence in India and expand the global reach of luxury Ayurvedic beauty products. According to ELC, Forest Essentials ranks as the top prestige skin care brand in India.

“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,” says Stéphane de La Faverie, CEO at ELC.

ELC first invested in Forest Essentials in 2008 and later increased its stake to 49% in 2020. The new deal still requires regulatory approvals and is expected to close in the second half of 2026.

Forest Essentials’ founder and managing director, Mira Kulkarni, will continue to lead the brand locally. 

The pair will keep the brand’s original Ayurveda-focused positioning as it scales, and aim to amplify the heritage that inspired the products.

“Ayurveda is not folklore — it is a sophisticated system of science, ritual, and holistic well-being. By combining our heritage with the operational strength of ELC, we have the opportunity to bring this wisdom to a global audience,” says Kulkarni.

As Indian beauty products gain increased global attention, Indē Wild is entering Sephora shelves across the US.

Indē Wild says it is “one of the first” homegrown Indian beauty brands to debut in retailers’ US brick-and-mortar locations. It attributes its global expansion to increased demand for culturally rooted beauty.

Together, the companies’ moves signal increased attention to Indian cosmetics, as local brands scale internationally and global beauty leaders double down on their local commitments.

The Estée Lauder Companies plans to acquire full ownership of Indian Ayurvedic beauty brand Forest Essentials.The pattern aligns with a broader surge in India’s premium and luxury beauty spending. The country’s beauty and personal care market is expected to reach US$40–45 billion by 2030.

Ayurvedic beauty push

Mira Kulkarni founded Forest Essentials in 2000 and positioned the company as a modern luxury cosmetics brand inspired by traditional Ayurvedic beauty rituals. It operates nearly 200 standalone retail stores and has built a strong presence in India’s prestige beauty market.

Forest Essentials expects its net sales to grow at a low double-digit rate in the coming years. ELC says this growth, combined with its existing brand portfolio, will make India its largest emerging market.

After the acquisition, Forest Essentials will maintain its operations in India and continue conducting R&D based on Ayurvedic science and traditional botanical knowledge. The company will continue sourcing ingredients locally and producing products through its own manufacturing operations.

US expansion

Indē Wild has launched on Sephora’s US online platform, and is planning an in-store rollout in 178 Sephora locations across the country by the end of this week.

The company is a former participant in Sephora’s Accelerate Program, and says the partnership now marks its transition from a digitally native beauty brand into a global prestige retail brand.

“Indē Wild unifies Indian Ayurvedic traditions with scientifically proven formulas to brighten skin, address hyperpigmentation, and eliminate dryness,” says Brooke Banwart, SVP of skin care merchandising at Sephora US.

The US launch follows the brand’s entry into Sephora UK in late 2024, which helped it to build momentum for the broader expansion.

Indian beauty brand indē wild is expanding internationally with a launch on Sephora US.Indē Wild’s portfolio includes products such as the Champi Pre-Wash Treatment Hair Oil, which the company says sells one bottle every minute globally. It also offers serums, facial mists, and treatment products.

Unilever Ventures, SoGal Ventures, and True are all supporting the expansion with a US$5 million investment. Unilever investor Rachel Harris says the move highlights the brand’s growing credibility in India and its ability to compete in the US prestige beauty retail market.

“India and the US are two of the most influential beauty markets today, combining scale, influence, and rapid growth and innovation,” says Harris.

India growth

According to ELC, India is one of the most dynamic beauty markets globally and a key opportunity to gain market share in prestige beauty.

The company says it has played an active role in India’s prestige beauty sector for over two decades. It currently sells products from 14 of its brands across skin care, makeup, fragrance, and hair care categories in the country.

India’s beauty market has been attracting industry giants, including L’Oréal, which at the end of last year launched its La Roche-Posay brand in the country, through a retail partnership with Nykaa.

LVMH-brands Fenty Beauty and Fenty Skin also entered the Indian market in late 2025 through a retail partnership.

Lush, too, returned to India through a licensing deal with a cosmetics manufacturing company, aiming to tap into India’s “luxury boom.” However, Innova Market Insights’ project lead for Beauty Personal Care & Household division cautioned that the “luxury boom” is nuanced.

“At first glance, any imported brand may appear as a luxury brand, but it is not,” they told Personal Care Insights.