For a minority share, the perfume company invested 100 crores in the Kama in 2019.

New Delhi: Kama Ayurveda Pvt. Ltd, a company that distributes cosmetics and personal care items, has acquired a majority share from Spanish perfume producer Puig, known for trademarks like Paco Rabanne, Nina Ricci, and Carolina Herrera.

Although the two businesses declined to disclose the deal’s magnitude, the perfume company 2019 made a minority investment in the Kama for 100 crores.

Vivek Sahni, the co-founder, and CEO of Kama Ayurveda had previously told Mint that the company planned to expand its 57 Indian locations—including Bareilly, Thiruvananthapuram, Ranchi, Siliguri, Jodhpur, and Goa—by 10 more stores this fiscal year. In 2023, he claimed, the business will also grow in the UK.

The business also uses a shop-in-shop business model and has 70 of these locations with merchants like Shoppers Stop. In towns like Raipur and Amritsar where the shops were present at airports, eight stores were closed during the epidemic.

Given that the company practices the “Indian medicinal science of Ayurveda,” Puig’s said that the investment was made in the brand to improve its wellness division. According to a statement from the firm, “Puig will maintain its commitment to increase the brand’s leadership in the Indian market and continue to assist the further internationalization of Kama Ayurveda as well as offering experience in brand creation, skincare technology, and perfumery.”

“India presents an immensely interesting potential for Puig, and with this investment, we will continue our strategy of enhancing Kama Ayurveda’s robust domestic footprint and chasing enticing opportunities in major international countries, “Chairman and CEO of Puig, Marc Puig, stated.

“Together, we will introduce genuine Ayurvedic wellbeing and beauty to new audiences, “added Sahni.

The Indian Ayurvedic goods market, which was valued at 515.5 billion in 2021, is expected to rise at a compound yearly growth rate of 19.78% until 2027, according to ResearchAndMarkets.com.

Puig reported sales of €2,585 million in 2021. It has offices in 29 countries and distributes its products in more than 150.