Estée Lauder Companies is set to fully acquire the remaining stake in Forest Essentials, with the transaction expected to close in the second half of 2026, subject to regulatory approvals.
According to the company, this milestone builds on an 18 year partnership that began with the company’s initial minority investment in Forest Essentials in 2008, later increased to a 49 per cent stake in 2020. The move reflects confidence in the brand’s strong equity, vertically integrated capabilities, and sustainability focused approach.
Founded in 2000 by Mira Kulkarni, Forest Essentials has positioned itself within the modern luxury Ayurveda segment by adapting traditional beauty rituals into contemporary formulations. The brand currently operates close to 200 standalone retail stores across India.
According to the company, Forest Essentials is currently ranked among the leading prestige skincare brands in the Indian market. With the brand expected to deliver low double digit net sales growth, the acquisition is anticipated to strengthen the company’s presence in India, which it identifies as one of its largest emerging markets within the global prestige beauty sector.
Under the continued leadership of Kulkarni and her son Samrath Bedi, Forest Essentials will remain headquartered in New Delhi and continue operating its fully integrated ecosystem in India, including Ayurvedic research and development, responsible botanical sourcing, and in house manufacturing.
The brand will also leverage the global brand building expertise, prestige distribution network, and operational capabilities of the company to support its long term growth while continuing to preserve its Ayurvedic heritage and Indian identity.
For more than two decades, the company has played a role in India’s prestige beauty market, currently offering 14 brands across skincare, makeup, fragrance, and hair care categories. The acquisition further reinforces the company’s long term focus on the growing prestige beauty sector in the region.
As per the company, this move also reflects a founder focused strategy that supports culturally rooted brands with global potential, an approach also seen through the BEAUTY and YOU India programme, which identifies and supports emerging Indian beauty entrepreneurs. Additionally, the company states that it has invested more than 14 million dollars in social initiatives across India, supporting health, education, leadership, and life skills through partnerships with local non governmental organisations.
Stéphane de La Faverie, President and Chief Executive Officer, The Estée Lauder Companies, said “Today 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 Estée 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. Estée Lauder, has elevated the prestige beauty industry through a clear vision of authenticity and purpose. This next phase of partnership reflects our long-term commitment to India, one of our largest and most significant emerging markets and our conviction in the global resonance of this remarkable brand.”
“Together, our ambition is clear: to further strengthen the brand’s 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’s exciting future.” he added.
Mira Kulkarni, Founder and Managing Director, Forest Essentials, said, “Over 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 Estée Lauder Companies apart is their profound respect for a founder’s vision; they understand how to preserve a brand’s soul while providing the global expertise needed to scale.
“Our 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 Estée Lauder Companies, we have the opportunity to bring this wisdom to a global audience presented 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.” she added.
