Kolkata-based Emami announced on Thursday that it is acquiring a 60% stake in IncNut Digital, the parent company behind popular personalised beauty brands Vedix and SkinKraft.
The deal, valued at Rs 321 crore, includes performance-linked adjustments that will play out over the next two years.
The FMCG major further said in an exchange filing that it plans to buy the remaining stake in IncNut in two phases over the next 4.5 years, with the final valuation tied to the company’s future performance.
Shares of Emami were trading 1.19% higher at Rs 457.65 on the BSE at 11:59 am.
IncNut was among the early entrants in India’s personalised beauty and wellness space.
Through its flagship brands Vedix and SkinKraft, the company built a strong online-first business by offering customised skincare and haircare products designed around individual customer profiles and concerns, Emami noted in his release.
Meanwhile, Vedix combines Ayurvedic principles with consumer data to create personalised formulations based on a person’s lifestyle and body type. SkinKraft, on the other hand, focuses on dermatologist-backed skincare solutions aimed at addressing specific skin and hair issues using clinically tested ingredients.
The acquisition gives Emami a stronger foothold in the rapidly expanding direct-to-consumer beauty segment, where consumers are increasingly looking for products tailored to their personal needs rather than one-size-fits-all offerings.
"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," Emami's Vice Chairman & MD, Harsha Vardhan Agarwal said.
"As consumer preferences increasingly shift towards efficacy and customisation, we see personalised beauty as a significant long-term growth opportunity in India and globally," he added.
Meanwhile, IncNut Founder & CEO Chaitanya Nallan called the partnership a key turning point for both Skinkraft as well as Vedix.
"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," he said.
