The Estée Lauder Companies announced that it has entered into an agreement to acquire the remaining shares of Indian luxury beauty brand Forest Essentials, deepening a partnership that began nearly two decades ago. The deal, which remains subject to regulatory approvals, is expected to close in the second half of 2026.
Estée Lauder first invested in Forest Essentials in 2008 and increased its ownership to 49% in 2020. The latest transaction will give the global beauty company full ownership of the brand, reflecting its long term confidence in Forest Essentials’ growth prospects and strong position within India’s prestige skincare market.
Founded in 2000 by Mira Kulkarni, Forest Essentials has built its reputation around luxury formulations rooted in Ayurveda, blending traditional wellness practices with modern product development. The brand operates nearly 200 freestanding retail stores and has become the top-ranked prestige skincare brand in India, according to industry data. The company is forecast to grow net sales at a low double-digit rate, further strengthening Estée Lauder’s presence in one of the fastest-growing global beauty markets.
Following the acquisition, Forest Essentials will remain headquartered in New Delhi and continue to operate its vertically integrated ecosystem in India, including research and development based on Ayurvedic science, local botanical sourcing, and in-house manufacturing. Founder Mira Kulkarni will continue to oversee the brand alongside her son, Executive Director Samrath Bedi, preserving its heritage while expanding internationally.
Estée Lauder said the acquisition will allow Forest Essentials to leverage its global brand-building capabilities, distribution network, and operational expertise to bring the concept of luxury Ayurveda to new markets worldwide. The transaction also reinforces India’s importance to the company, positioning the country as its largest emerging market.
The Estée Lauder Companies currently operates 14 brands across skincare, makeup, fragrance, and hair care in India. In addition to its commercial presence, the company has invested more than $14 million in social initiatives in the country focused on health, education, leadership, and life skills through partnerships with local nonprofit organizations.
KEY QUOTES:
“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.”
Stéphane de La Faverie, President and Chief Executive Officer, The Estée Lauder Companies
“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.”
Mira Kulkarni, Founder and Managing Director, Forest Essentials
