Beauty and personal care products maker Lotus Herbals has bought a 32 percent stake in Fixderma India, owners of dermaceuticals brands like Fixderma and FCL.
The company, however, did not disclose the financial details of the transaction.
Through this investment, Lotus Herbals forays into the dermaceutical segment offering a premium range of skincare and haircare products, said a joint statement.
This also bridges the gap between the prescription-based products and over-the-counter cosmetics, it added.
“By investing in this leading cosmeceutical company, Lotus enters the dermaceutical beauty space with a clear-sighted goal of emerging as domain leaders in the future,” it said.
Fixderma, along with its premium skincare range FCL, manufactures dermatology products.
It is an established direct-to-consumer (D2C) brand and Fixderma product lines are also retailed through dermatologists and pharmacies in India and overseas.
“With our strategic planning & marketing expertise, we aim at enhancing the global footprint for Fixderma and FCL and capture significant market share within the next five years as part of our long-term growth strategy,” Lotus Herbals Joint Managing Director Nitin Passi said.
This is the second investment by Lotus Herbals. In 2020, it had acquired 100 percent stake of organic Ayurveda brand Soul Tree.
“Developments in the Indian skincare industry are exciting and challenging, especially in the e-commerce space however, the engagement level, passion and experiential resonance our customers have with our brands is amazing. We are thrilled to partner with Lotus to help strategically optimize this in a meaningful way,” Fixderma India Chairman Anurag Mehrotra said.
Lotus Herbals plans on maintaining a distinctive brand identity for Fixderma and FCL in domestic and international markets while strategizing the brand’s expansion and growth trajectory, the company said.
The beauty and personal care segment is witnessing consolidation as several makers are acquiring stake in the companies having direct-to-consumer engagement.
Last week, IPO-bound Nykaa had acquired D2C beauty brand Dot & Key.
