The company, however, did not disclose the financial details of the transaction.
Commenting on the development, Lotus Herbals Joint Managing Director Nitin Passi said the investment in Conscious Chemist aligns with the company’s strategy for accelerating growth in the direct-to-consumer (D2C) space focusing on clean beauty.
“The brand also resonates with our commitment to sustainability and environmentally friendly practices. We appreciate the vigour, exuberance and dynamism that Conscious Chemist brings and will provide them tangible access to Indian and global markets, technological and marketing mentorship that will help in propelling its growth over the next five years,” he said.
Conscious Chemist Co-Founder & CEO Robin Gupta said: “We are confident that this synergistic relationship will drive exponential growth.”
Conscious Chemist, which had started operations a couple of years ago with just three products, now has a functional skincare range of assembled products spread across categories spanning face care, eye care and body care.
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Lotus Herbals, which had a turnover of Rs 650 crore in FY 21, in the last 18 months made investments in emerging beauty brands.
This includes the acquisition of the luxury Ayurveda brand SoulTree in September 2020, followed by a 32 per cent stake buy in the dermaceuticals maker Fixderma India in October 2021.