Emami Limited has signed a definitive agreement to acquire a 60% stake, on a fully diluted basis, in IncNut Digital Pvt. Ltd., along with its subsidiaries and associates, in a transaction valued at Rs.321cr. The deal includes performance-linked adjustments over a 24-month period.
The company will also acquire the remaining stake in IncNut Digital over the next 4 and half years in two tranches from current closing, with the consideration to be determined based on an agreed performance matrix.
IncNut Digital operates in the personalised beauty and personal care segment through its flagship brands Vedix and SkinKraft. Both brands focus on customised skincare and haircare solutions built around consumer profiles, data analytics and scientific formulations.
Expanding Presence in Personalised Beauty
Vedix combines Ayurvedic principles with data-driven analysis to create formulations based on individual prakriti and lifestyle factors. SkinKraft follows a dermatology-led model using clinically validated ingredients to address targeted skin and hair concerns.
The acquisition adds to Emami’s growing beauty and personal care portfolio, which already includes brands such as The Man Company and Brillare. The move comes as consumer demand for personalised and outcome-driven beauty products continues to rise across digital-first channels.
Mr Harsha Vardhan Agarwal, Vice Chairman & MD, Emami Ltd said, “This investment represents a strategic step in strengthening our presence in the high-growth beauty and personal care segment. While the broader BPC market continues to expand, meaningful differentiation remains limited, with only a few players offering deeply personalised, outcome-driven solutions. As consumer preferences increasingly shift towards efficacy and customisation, we see personalised beauty as a significant long-term growth opportunity in India and globally. Vedix and SkinKraft will strengthen our Beauty and Personal Care portfolio by adding personalised, science-led offerings across Ayurveda and dermatology. Alongside The Man Company and Brillare, this acquisition strengthens our presence across high-growth BPC segments, aligns with our strategy of building a future-ready, consumer-centric portfolio, and positions us to capture the next phase of consumer demand. We are excited to partner with the founders and management team to scale these brands to the next phase of growth.”
D2C Beauty Segment Sees Consolidation
Vedix and SkinKraft have built direct-to-consumer platforms focused on personalised engagement and repeat customer usage. The brands operate in a category increasingly shaped by consumers seeking customised wellness, skincare and haircare experiences.
Commenting on the development, Mr Chaitanya Nallan, Founder & CEO, IncNut Digital Pvt Ltd said, “This partnership with Emami represents a key turning point for Vedix and SkinKraft. Leveraging Emami’s deep-rooted consumer expertise and strong execution capabilities, we will fast-track innovation, scale our reach significantly, and lead the evolution of the personalised beauty industry.”
The acquisition strengthens Emami’s position in digital-first beauty categories while expanding its reach across science-led and personalised personal care solutions.
Market Research Outlook Analysis
The acquisition signals growing consolidation in India’s personalised beauty and personal care market, where legacy FMCG companies are increasingly acquiring digital-first brands to access younger consumers and high-engagement categories. Personalisation, efficacy and data-led product development are emerging as key growth drivers in beauty and wellness.
For incumbents and D2C players alike, the deal raises competitive pressure in customised skincare and haircare segments, particularly where Ayurveda and dermatology-led solutions are gaining traction. Emami’s move also points to a broader shift toward portfolio diversification beyond mass-market FMCG products into higher-margin, specialised beauty categories.
The sector is steadily moving toward tech-enabled, consumer-specific formulations backed by strong digital ecosystems and repeat purchase models. For deeper insights or customised research on this segment, connect with our team.
Source: Emami Limited
