Turning adversity into success

ESTEE LAUDER'S ACQUISITION OF FOREST ESSENTIALS IS A GENTLE NOD TO THE AYURVEDIC BRAND'S FOUNDER'S GRIT

- VIVEAT SUSAN PINTO

MIRA KULKARNI, FOUNDER & MD of Forest Essentials, an Ayurveda-based beauty brand, has preferred to let her work do the talking.

The 70-year-old found herself in the spotlight this week when early investor Estee Lauder, best-known for brands such as MAC, Bobbi Brown and Clinique, decided to take full ownership of Forest Essentials, acquiring the remaining 51% stake in the company. It had 49% stake earlier, picked up in tranches since 2008.

While the deal details were not shared, Kulkarni and her son Samrath Bedi will continue to run the business, albeit as a wholly-owned subsidiary of the American beauty major.

Experts see it as an acknowledgement of Kulkarni’s leadership skills and her deep understanding of the Indian beauty market, something that multinational companies such as Estee Lauder clearly value, as they look to grow their presence in the country.

“We have a deep, inherent appreciation for the vision and tenacity required to build a brand of this calibre. Our ambition is clear: to further strengthen the brand’s leadership at home while thoughtfully introducing it to a global audience,” Stéphane de La Faverie, president & CEO, Estée Lauder, said, while announcing the acquisition.