Honasa Consumer enters nutraceuticals space with 58% stake acquisition in Fluence Pharma
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Honasa Consumer, the parent company of Mamaearth, has entered the nutraceuticals segment through the acquisition of a 58% stake in Fluence Pharma, marking its foray into the fast-growing "beauty-from-within" category.
The company said on Monday that the acquisition will be executed through a newly incorporated subsidiary, Honasa Health Pvt Ltd, which will focus on building a consumer nutraceuticals business by combining Fluence Pharma's patented clinical science with Honasa's brand-building and digital distribution capabilities.
Honasa bets on next phase of beauty market
The move comes as beauty and personal care companies increasingly look beyond topical products and target consumer demand for holistic skin and hair care solutions through supplements and nutrition-based interventions.
"The beauty and personal care landscape is entering a new era where consumers are increasingly seeking holistic, inside-out solutions that address beauty concerns at their root," said Varun Alagh, co-founder and CEO of Honasa Consumer.
"While the last decade was shaped by topical actives, we believe the next decade will be defined by the powerful convergence of science-backed skin and hair care, and nutraceuticals," he added.
Honasa said India's nutraceuticals market, valued at over ₹16,000 crore, is witnessing rising demand from consumers seeking science-backed wellness and beauty solutions.
Access to patented science, dermatologist network
Founded by Amit Bhusari and dermatologist Dr Rajendra Singh Rajput, Fluence Pharma develops over-the-counter nutritional supplements targeting hair and skin conditions through its patented Cyclical Nutrition Therapy (CNT) platform.
The company has built a network of more than 3,000 practicing dermatologists across India and has earned credibility through over a decade of clinical usage, according to Honasa.
Fluence reported revenue of around ₹40 crore in FY26 and an EBITDA margin of more than 20%, the company said.
New subsidiary to drive expansion
Honasa said it will use the newly formed Honasa Health subsidiary to build a dedicated nutraceuticals franchise by leveraging Fluence's clinical expertise and practitioner trust alongside its own consumer insights, digital-first capabilities and omnichannel distribution network.
The acquisition also expands Honasa's portfolio beyond its existing beauty and personal care brands, which include Mamaearth, The Derma Co., Aqualogica, Dr Sheth's, BBlunt and Staze.
Amit Bhusari, CEO and co-founder of Fluence Pharma, said partnering with Honasa would help the company take its science-led products to a wider consumer base.
"Their digital-first capabilities, data-driven consumer insights, and proven track record of scaling young brands will allow us to strengthen our distribution and solve consumer problems across India," Bhusari said.
Shares of Honasa Consumer, the parent of Mamaearth, ended Tuesday 1% higher at ₹420 apiece on the NSE. The stock has gained over 38% in the past year, outperforming the Nifty 500, which has risen just 0.04% during the same period.