Aneesh Sheth, CEO, Dr. Sheth’s will continue to lead the business and product innovation for the brand
Honasa Consumer Pvt. Ltd. (HCPL) has acquired Dr. Sheth’s, a dermatologist-formulated premium skincare brand. As part of the acquisition, HCPL has control of the majority stake in Dr. Sheth’s at a valuation of Rs 28 crore. As per the company, the primary round of funds will be directed to accelerate future growth of the brand.
For Varun Alagh, co-founder and CEO, Honasa Consumer Pvt. Ltd, Dr. Sheth’s will help the company widen its portfolio offerings under the HCPL umbrella. “It will be a symbiotic relationship wherein there will be knowledge sharing across brands and collaboratively build the brand and its product portfolio. Being a house of brands, Honasa Consumer Pvt. Ltd. has attained expertise in building millennial brands with a digital-first approach. We will utilise our expertise in digital marketing to accelerate the growth and scale growth for Dr. Sheth’s. HCPL and Dr. Sheth’s synergise on fundamental ideologies of distinctive product innovation and millennial connect,” he stated.
While HCPL has control of the majority stake in Dr. Sheth’s, Aneesh Sheth, CEO, Dr. Sheth’s will continue to lead the business and product innovation for the brand. According to Sheth, HCPL brings a level of operational excellence that will make the brand’s expertise and products accessible to a wider community. “It’s experience as a house of brands will help us optimise our innovation and bring about a range of skincare that combines the best of both worlds – science and nature,” he stated.
Honasa Consumer Pvt Limited (HCPL), is a house of brands with a digital-first approach towards consumer brands. Currently, it caters to over 500 cities in India. Backed by Sequoia Capital India, Sofina SA, Fireside Ventures, and Stellaris Venture Partners, HCPL has built an inhouse portfolio of digital-first consumer brands such as Mamaearth, The Derma Co., Aqualogica, Ayuga and have recently acquired stakes in BBlunt and content platform- Momspresso.