Beauty and personal care brand Lotus Herbals announced on Wednesday, October 27 that it has acquired a 32 per cent stake in direct-to-consumer (D2C) dermaceuticals company Fixderma India, which comprises brands such as Fixderma and FCL.
The investment marks Lotus Herbals’ aim to foray into the dermacuiticals sector in India that offers a diverse range of skincare and hair products to bridge the gap between prescription-based products and over the counter beauty products.
Expressing his excitement to partner with Fixderma India, Nitin Passi, Joint Managing Director, Lotus Herbals, stated that Fizaderma’s brand philosophy, ethics, and diversified range of world-class dermaceutical products “fit perfectly with the values and experimental blueprint of Lotus.”
With the acquisition, Lotus Herbals is endeavouring to magnify the global presence of Fixderma and FCL to seize “significant market share within the next five years as part of [their] long-term growth strategy.”
Moreover, Lotus Herbal is planning to retain Fixderma and FLC’s unique brand identity in both domestic and foreign markets as it assists the brand over the course of its expansion and growth into global markets.
This is Lotus Herbals’ second investment in the beauty and personal care segment. Last year, it had acquired a 100 per cent stake in organic Ayurveda brand SoulTree.
Meanwhile, Anurag Mehrotra, Fixderma India’s chairman termed the advancements in the Indian skincare market as challenging and exciting. “However, the engagement level, passion and experiential resonance our customers have with our brand is amazing,” he stated.
Fixderma, along with its premium skincare brand FCL, focuses on researching, manufacturing and marketing innovative dermatology products while working in collaboration with trusted dermatologists in India and exports them to over 35 countries across the globe.
There have been several consolidations in the beauty and personal care market in recent times. Companies have shown interest in acquiring direct-to-consumer brands to expand their presence in the market. Last week, IPO-bound Nykaa had acquired D2C beauty brand Dot & Key. Moreover, FMCG major Marico had acquired Apcos Naturals, the maker of ayurvedic beauty brand Just Herbs earlier this year in July.