Following Minority Investment, The Est\u00e9e Lauder Companies to Acquire Remaining Shares in Forest Essentials<\/i><\/p>\n
Mira Kulkarni to Continue to Oversee Brand with Headquarters Remaining in New Delhi<\/i><\/p>\n
The Est\u00e9e Lauder Companies Committed to Bringing Luxurious Ayurveda to the World<\/i><\/p>\n
NEW YORK & NEW DELHI–(BUSINESS WIRE<\/a>)– This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20260304943103\/en\/<\/a><\/p>\n Forest Essentials<\/p>\n<\/div>\n \nFounded in 2000 by visionary entrepreneur Mira Kulkarni, Forest Essentials represents the soul and artistry of Indian beauty. The brand has redefined modern Luxurious Ayurveda for today\u2019s world, transforming time-honored beauty rituals into exquisitely crafted formulations, immersive retail experiences with nearly 200 freestanding stores, and sensorial indulgences rooted in purity and craftsmanship. Its uncompromising commitment to authenticity has resonated deeply with consumers, establishing it as the top-ranked brand in prestige Skin Care in India1<\/sup>. The brand, which is forecasted to grow net sales low double digits, combined with The Est\u00e9e Lauder Companies\u2019 existing brand portfolio will make India the company\u2019s largest emerging market. With this acquisition, The Est\u00e9e Lauder Companies is well-positioned to gain prestige beauty share in one of the most dynamic beauty markets in the world.<\/p>\n \nUnder the continued guidance and direction of Mrs. Kulkarni and her son, Executive Director Samrath Bedi, Forest Essentials will remain headquartered in New Delhi. The brand will maintain its fully integrated operational ecosystem in India, spanning Research & Development that is grounded in Ayurveda, responsible and local botanical sourcing, and in-house manufacturing. This Indian end-to-end model will continue to enable the brand to innovate with integrity, uphold exceptional quality, reduce its environmental impact, and continue cultivating enduring consumer trust.<\/p>\n \nThrough this partnership with The Est\u00e9e Lauder Companies, Forest Essentials will leverage global brand-building capabilities, a prestige distribution network, and operational expertise to drive long-term, sustainable growth while preserving the brand\u2019s distinctive Luxurious Ayurvedic DNA and Indian heritage. The collaboration is a strategic investment in Forest Essentials\u2019 future, creating a scalable platform that will broaden consumer reach and bring modern Luxurious Ayurveda to new audiences all over the world.<\/p>\n St\u00e9phane de La Faverie, <\/b>President and Chief Executive Officer, The Est\u00e9e Lauder Companies, said: \u201cToday marks a meaningful new chapter in a partnership built over the past 18 years on a foundation of mutual trust and respect. Forest Essentials is an exceptional brand, beloved in India and created and nurtured by its founder, Mira Kulkarni. Entrepreneurial spirit lives at the heart of The Est\u00e9e Lauder Companies, and we have a deep, inherent appreciation for the vision and tenacity required to build a brand of this caliber. We are honored to strengthen our partnership with Mira, who, like Mrs. Est\u00e9e Lauder, has elevated the prestige beauty industry through a clear vision of authenticity and purpose.<\/p>\n \n\u201cThis next phase of partnership reflects our long-term commitment to India\u2014one of our largest and most significant emerging markets\u2014and our conviction in the global resonance of this remarkable brand. Together, our ambition is clear: to further strengthen the brand\u2019s leadership at home while thoughtfully introducing it to a global audience. We are committed to expanding this reach without compromising the integrity, craftsmanship, and cultural soul that define Forest Essentials, and look forward to supporting Mira and her son Sam in the brand\u2019s exciting future.\u201d<\/p>\n Mira Kulkarni<\/b>, Founder and Managing Director, Forest Essentials, said: \u201cOver the past 25 years, we have built this brand with an uncompromising commitment to the authenticity, craftsmanship and wisdom of our heritage. For me, what has always set The Est\u00e9e Lauder Companies apart is their profound respect for a founder\u2019s vision; they understand how to preserve a brand\u2019s soul while providing the global expertise needed to scale.<\/p>\n \n\u201cOur shared mission has always been to establish Luxury Ayurveda as a globally respected pillar of modern beauty. Ayurveda is not folklore; it is a sophisticated system of science, ritual, and holistic wellbeing. By combining our heritage with the operational strength of The Est\u00e9e Lauder Companies, we have the opportunity to bring this wisdom to a global audience\u2014presented with the same integrity, elegance, and uncompromising standards that define Forest Essentials today. This next phase is about continuity and growth. We continue to lead the brand from India, strengthening our operational excellence and commitment to our Indian consumers, while thoughtfully expanding internationally.\u201d<\/p>\n \nFor more than two decades, The Est\u00e9e Lauder Companies has played a meaningful role in contributing to India\u2019s prestige beauty landscape, with 14 of its brands across Skin Care, Makeup, Fragrance, and Hair Care serving consumers nationwide. This milestone acquisition further reinforces the company\u2019s long-term commitment to the market\u2019s high-growth prestige beauty industry and reflects its founder-first strategy that champions distinctive, culturally rooted brands with global resonance. This strategy is also reflected in the Company\u2019s BEAUTY&YOU India initiative, which discovers, propels, and supports the next generation of India-focused beauty entrepreneurs.<\/p>\n \nThe company has also prioritized social investments in the market, with more than $14 million dedicated to strengthening health, education, leadership, and life skills through partnerships with local NGOs. Together, these strategic and social investments reinforce The Est\u00e9e Lauder Companies\u2019 long-term commitment to India, strengthening the company\u2019s leadership in one of the world\u2019s most dynamic beauty markets while bringing Indian innovation to a global audience.<\/p>\n Forward-Looking Statement<\/span><\/b><\/p>\n \nThe forward-looking statements in this press release, including those in the quoted remarks and those relating to the closing of the transactions and benefits and other expectations for Forest Essentials involve risks and uncertainties. Factors that could cause actual results to differ from those forward-looking statements include current economic and other conditions, including volatility, in the global marketplace, actions by retailers, suppliers and consumers, competition, the transition and ongoing success of the collaborative relationship of the parties, contingencies set forth in the various transaction agreements, the abilities to implement the forward business plans, and those risk factors described in ELC\u2019s annual report on Form 10-K for the year ended June 30, 2025.<\/p>\n About The Est\u00e9e Lauder Companies Inc.<\/span><\/b><\/p>\n The Est\u00e9e Lauder Companies Inc.<\/a> is one of the world\u2019s leading manufacturers, marketers, and sellers of quality skin care, makeup, fragrance, and hair care products, and is a steward of luxury and prestige brands globally. The company\u2019s products are sold in approximately 150 countries and territories under brand names including: Est\u00e9e Lauder, Aramis, Clinique, Lab Series, Origins, M\u00b7A\u00b7C, La Mer, Bobbi Brown Cosmetics, Aveda, Jo Malone London, Bumble and bumble, Darphin Paris, TOM FORD, Smashbox, AERIN Beauty, Le Labo, Editions de Parfums Fr\u00e9d\u00e9ric Malle, GLAMGLOW, KILIAN PARIS, Too Faced, Dr.Jart+, the DECIEM family of brands, including The Ordinary and NIOD, and BALMAIN Beauty.<\/p>\n \nELC-C 1<\/sup>Source: Euromonitor International Limited 2024 \u00a9 All rights reserved<\/i><\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260304943103\/en\/<\/a><\/span><\/p>\n Investor Relations: Media Relations: KEYWORDS:<\/b> New York United States India North America Asia Pacific<\/p>\n INDUSTRY KEYWORDS:<\/b> Cosmetics Retail Luxury Fashion<\/p>\n
\nThe Est\u00e9e Lauder Companies Inc. (NYSE: EL) announced today that it has entered into an agreement, subject to regulatory approvals, to acquire the remaining interests in Forest Essentials, the Indian beauty brand grounded in the science of modern Luxurious Ayurveda. Building on a trusted 18-year partnership, this milestone celebrates The Est\u00e9e Lauder Companies\u2019 long-term commitment to nurturing and growing this extraordinary Indian brand and to expanding its consumer reach globally. Today\u2019s announcement reflects the company\u2019s strong confidence in Forest Essentials\u2019 highly trusted brand equity, its vertically integrated capabilities, and its sustainability ethos. The transaction is expected to close in the second half of calendar year 2026 and follows The Est\u00e9e Lauder Companies\u2019 minority investment in Forest Essentials, initially made in 2008 and increased to 49% in 2020.<\/p>\n![\"Forest](\"https:\/\/mms.businesswire.com\/media\/20260304943103\/en\/2738758\/4\/image_13.jpg\")
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Rainey Mancini
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rmancini@estee.com<\/a><\/p>\n
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Brendan Riley
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briley@estee.com<\/a><\/p>\n
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