Lotus Herbals forays into Ayurvedic Space with an acquisition
Lotus Herbals, which makes a range of skin-care, sun protection and make-up products has entered into the premium ayurvedic wellness space with a strategic buy out of the SoulTree brand. Confirming the development, Lotus Herbals joint managing director Nitin Passi in a statement to the press said, “With the acquisition of SoulTree, we have forayed into the premium ayurvedic wellness space with a brand that resonates with modern consumers and has international organic certifications.” “We will maintain independent brand identities for SoulTree and Lotus,” he added. SoulTree is the world’s first certified organic ayurvedic wellness and beauty brand, that claims to support women village farmers in Uttarakhand by sourcing organic herbs for its ayurvedic products. According to research data by Nielsen data, Lotus is an aggressive player in with a share of 27% in the Rs 2,000 crore premium skin-care segment. With the acquisition, Lotus Herbals will get a captive footprint in the rapidly growing Ayurveda space. The company has been scouting the market for a premium certified organic Ayurvedic brand and SoulTree checked all the boxes. Passi found the brand ‘Fantastic with a terrific soul which is built on the pillars of ethical beauty, sustainability, Ayurveda and prestigious international organic certifications’. Vishal Bhandari, founder of Soul Tree commented on the development saying “While charting out the course for the future growth of SoulTree, I was looking for a partner who would also preserve the ethos of the brand. Lotus Herbals is a family-owned business and has a history of innovation with botanicals, making it a natural match. I am confident that under the management of Lotus Herbals, SoulTree will grow to be the leading Organic Ayurvedic brand in India and internationally, while remaining firmly rooted in principles of sustainability.”
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