Estée Lauder to acquire full stake in Forest Essentials, doubling down on India’s luxury Ayurveda market

The Estée Lauder Companies is set to acquire the remaining stake in luxury Ayurvedic skincare brand Forest Essentials, marking the next phase of an 18-year partnership and signalling a stronger push into India’s fast-growing prestige beauty market.

The New York–based beauty giant announced on Thursday that it has entered into an agreement to buy out the remaining shares in the brand founded by entrepreneur Mira Kulkarni. The transaction, subject to regulatory approvals, is expected to close in the second half of 2026. Financial details of the deal were not disclosed.

Estée Lauder first invested in Forest Essentials in 2008 and increased its stake to 49% in 2020. The acquisition will give the company full ownership of one of India’s most prominent luxury beauty brands rooted in Ayurveda.

Deepening bet on India’s prestige beauty market

Despite the ownership change, Forest Essentials will continue to operate from its New Delhi headquarters, with Kulkarni continuing to oversee the brand along with her son, executive director Samrath Bedi.

“Forest Essentials is an exceptional brand, beloved in India and created and nurtured by its founder, Mira Kulkarni,” Stéphane de La Faverie, president and CEO of The Estée Lauder Companies, said in a statement. “This next phase reflects our long-term commitment to India—one of our most significant emerging markets—and our conviction in the global resonance of this remarkable brand.”

Founded in 2000, Forest Essentials has built a premium positioning around what it calls “luxurious Ayurveda,” translating traditional Indian beauty rituals into high-end skincare and wellness products. The brand operates nearly 200 standalone stores across India and has steadily expanded its presence in luxury retail.

According to Euromonitor data cited by the company, Forest Essentials ranks among the top brands in India’s prestige skincare segment.

Estée Lauder said the brand is forecast to deliver low double-digit net sales growth. Combined with its existing portfolio, the company expects India to emerge as its largest emerging market.

Global ambitions for luxury Ayurveda

The acquisition also reflects the growing strategic importance of India for global beauty majors, which are increasingly targeting affluent consumers and younger shoppers driving demand for premium skincare and wellness products.

For Estée Lauder, the deal strengthens its presence in a market where it already sells products under 14 brands spanning skincare, makeup, fragrance, and haircare, including Estée Lauder, MAC, Bobbi Brown, Jo Malone London, and La Mer.

Kulkarni said the partnership would help take the brand’s Ayurvedic philosophy to a wider international audience.

“Over the past 25 years, we have built this brand with an uncompromising commitment to the authenticity, craftsmanship, and wisdom of our heritage,” she said. “By combining our heritage with the operational strength of The Estée Lauder Companies, we have the opportunity to bring this wisdom to a global audience while continuing to strengthen our commitment to Indian consumers.”

Forest Essentials will continue to maintain its vertically integrated model in India, including research and development grounded in Ayurveda, local botanical sourcing, and in-house manufacturing.

The company said the brand will leverage Estée Lauder’s global distribution network, brand-building capabilities, and operational expertise to expand internationally while retaining its Indian identity and Ayurvedic heritage.

The move also aligns with Estée Lauder’s broader strategy of backing founder-led brands with distinctive cultural positioning and scaling them globally through its prestige beauty ecosystem.