Emami Limited announced Thursday it has signed a definitive agreement to acquire a 60 per cent stake in Hyderabad-based IncNut Digital Pvt. Ltd., the parent company of personalised beauty brands Vedix and SkinKraft, for ₹321 crore. The deal includes performance-linked adjustments over 24 months, with Emami committing to acquire the remaining stake in two further tranches over the next four and a half years at valuations tied to future performance.
IncNut, founded in 2011, built its business on data-driven diagnostics and customised formulations. Vedix applies Ayurvedic principles alongside data analytics to deliver personalised haircare, while SkinKraft takes a dermatology-led approach to skincare and haircare. Both brands operate direct-to-consumer platforms and have built subscription-based customer bases with high repeat purchase rates.
For Emami, the acquisition adds science-led, personalised offerings to a BPC portfolio that already includes The Man Company and Brillare, alongside its legacy brands such as Navratna, BoroPlus, and Kesh King.
Vice Chairman and MD Harsha Vardhan Agarwal said the deal addresses a gap in the market where few players offer genuinely personalised, outcome-driven solutions, and that consumer demand is increasingly moving in that direction both in India and internationally.
Emami’s stock was trading at ₹456.35 on the NSE on Thursday, up 0.92 per cent on the day, though the scrip remains down roughly 28 per cent over the past year and has underperformed the Nifty FMCG index across most timeframes. The company carries a total market capitalisation of approximately ₹19,920 crore.
IncNut founder and CEO Chaitanya Nallan said the partnership would help accelerate innovation and expand the brands’ reach, describing it as a turning point for the company.