FMCG major Emami Ltd on Thursday said it has entered into a definitive agreement to acquire a 60 per cent stake in IncNut Digital, engaged in the personalised beauty and personal care segment with flagship brands Vedix and SkinKraft, for a cash consideration of ₹321 crore.
In a stock exchange filing, Emami said it would acquire the remaining stake in Hyderabad-based IncNut within next four-and-half years in two tranches from current closing at a consideration to be determined as per agreed matrix on future performances.
“The board of directors of Emami Limited at its meeting held today approved the execution of a share subscription and purchase agreement (SSPA) for acquiring stake in IncNut Digital Private Limited,” the filing said.
The acquisition of the 60 per cent stake on a fully diluted basis in IncNut Digital is subject to adjustment basis second year of performance. Consequent upon the transaction, the firm and its subsidiary IncNut Lifestyle Retail will become subsidiaries of Emami Limited.
IncNut is among India’s early players in the personalised beauty and personal care segment. Built on a foundation of data-driven personalisation and scientific formulation, both of its brands– Vedix and SkinKraft–have established strong direct-to-consumer platforms delivering data driven, customised haircare and skincare solutions tailored to individual customer needs, profiles, and desired outcomes.
Vedix integrates Ayurvedic principles with modern data analytics to offer formulations tailored to individual prakriti and lifestyle parameters, while SkinKraft adopts a dermatology-led approach, leveraging clinically validated ingredients to address specific skin and hair concerns.
Harsha Vardhan Agarwal, Vice Chairman & MD, Emami Ltd, said this investment represents a strategic step in strengthening the company’s presence in the high-growth beauty and personal care (BPC) segment. “While the broader BPC market continues to expand, meaningful differentiation remains limited, with only a few players offering deeply personalised, outcome-driven solutions. 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 said.
According to Agarwal, Vedix and SkinKraft will strengthen the company’s Beauty and Personal Care portfolio by adding personalised, science-led offerings across Ayurveda and dermatology. Alongside The Man Company and Brillare, this acquisition strengthens its presence across high-growth BPC segments, aligns with its strategy of building a future-ready and consumer-centric portfolio.
Chaitanya Nallan, Founder & CEO, IncNut Digital, said the partnership with Emami represented a key turning point for Vedix and SkinKraft. “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,” Nallan added.
Consolidated turnover of IncNut Digital stood at ₹175.1 crore for FY25 as against ₹196.5 crore for FY24.