Honasa Consumer Ltd, the parent company of popular brands such as Mamaearth, The Derma Co, and BBLUNT, has acquired the assets of Thane-based skincare company CosmoGenesis Labs for INR 4 Cr.
This acquisition is part of Honasa’s strategy to enhance its research, development, and manufacturing capabilities.
By leveraging CosmoGenesis’ expertise in cosmetics formulation, Honasa aims to enter new sub-categories and expand its range of skincare solutions.
CosmoGenesis Labs, founded by Rohini Manoj in 2011, offers cosmetics product development services to beauty brands in the skincare industry.
With this buyout, Honasa will acquire over 4,000 cosmetic formulations developed by CosmoGenesis, along with their formulations expertise, R&D lab, and a small manufacturing facility.
Ghazal Alagh, co-founder and chief innovation officer of Honasa, stated that this strategic alliance would significantly enhance their ability to research new trends and develop best-in-class products.
In recent years, Honasa has made several strategic acquisitions, including Dr Sheth’s, BBLUNT, and The Derma Co.
Recently, the company launched a new brand called ‘Staze,’ marking its entry into the color cosmetics space.
Additionally, the board of Honasa has approved the merger of the company with its two wholly-owned subsidiaries – Just4Kids Services and Fusion Cosmeceutics – to prevent cost duplication.
These strategic moves are part of Honasa’s broader plan to consolidate its market position and continue its growth trajectory.
The acquisition of CosmoGenesis Labs is expected to play a crucial role in achieving these objectives by bolstering the company’s R&D capabilities and expanding its product offerings in the skincare category.
