The Estée Lauder Companies and Forest Essentials will enter a new chapter in their long-term partnership

Estée Lauder Companies Inc. (NYSE: EL) announced today that it has agreed to purchase the remaining shares in Forest Essentials, an Indian beauty brand founded on the concept of contemporary Luxurious Ayurveda. This milestone, which builds on a trusted 18-year association, honours The Estée Lauder Companies' long-term commitment to nurturing and growing this great Indian brand, as well as expanding its global consumer reach. Today's announcement demonstrates the company's strong belief in Forest Essentials' well-established brand identity, vertically integrated capabilities, and sustainable mindset. The transaction is projected to close in the second part of calendar year 2026, as follows: The Estée Lauder Companies made a minority investment in Forest Essentials in 2008, which climbed to 49% by 2020.

Forest Essentials was founded in 2000 by visionary businesswoman Mira Kulkarni, and it symbolises the soul and creativity of Indian beauty. The brand has reinvented modern Luxurious Ayurveda for today's world, transforming time-honoured beauty practices into delicately made formulations, immersive retail experiences with nearly 200 standalone stores, and sensual delights based on purity and craftsmanship. Its unwavering commitment to authenticity has struck a chord with consumers, propelling it to the top of the luxury Skin Care category in India1. The brand is expected to grow net sales in the low double digits, and when joined with The Estée Lauder Companies' existing brand portfolio, India will become the company's largest emerging market. With this acquisition, The Estée Lauder Companies is well-positioned to expand its prestige beauty share in one of the world's most vibrant beauty markets.

Forest Essentials will continue to be located in New Delhi, led by Mrs. Kulkarni and her son, Executive Director Samrath Bedi. The brand will keep its fully integrated operational ecosystem in India, which includes Ayurvedic-based research and development, responsible botanical procurement, and in-house manufacturing. This Indian end-to-end strategy will allow the brand to continue to develop with integrity, maintain great quality, minimise its environmental effect, and cultivate long-term consumer confidence.

Forest Essentials will use this collaboration with The Estée Lauder Companies to leverage global brand-building capabilities, a prestige distribution network, and operational expertise to drive long-term, sustainable growth while retaining the brand's distinct Luxurious Ayurvedic DNA and Indian heritage. The relationship is a strategic investment in Forest Essentials' future, resulting in a scalable platform that will expand consumer reach and introduce modern Luxurious Ayurveda to new audiences around the world.

Stéphane de La Faverie, President & CEO of The Estée Lauder Companies, stated: "Today marks a significant new chapter in an 18-year cooperation built on mutual trust and respect. Mira Kulkarni, the founder of Forest Essentials, built and maintained this excellent brand, which is well-known throughout India. The entrepreneurial spirit is at the heart of The Estée Lauder Companies, and we have a profound understanding for the vision and determination required to establish a brand of this calibre. We are honoured to deepen our collaboration with Mira, who, like Mrs. Estée Lauder, has elevated the premium cosmetics sector with a clear vision of authenticity and purpose.

"This next chapter of engagement demonstrates our long-term commitment to India, one of our largest and most important emerging countries, as well as our belief in the exceptional brand's worldwide resonance. Our goal is clear: to strengthen the brand's leadership at home while intelligently presenting it to a worldwide audience. We are committed to broadening our reach while maintaining the integrity, craftsmanship, and cultural soul that define Forest Essentials, and we look forward to assisting Mira and her son Sam in the brand's exciting future."

Mira Kulkarni, Founder and Managing Director of Forest Essentials, stated: "For the past 25 years, we have established this brand with an unwavering devotion to the authenticity, craftsmanship, and wisdom of our tradition. For me, what has always distinguished The Estée Lauder Companies is their deep regard for a founder's vision; they understand how to protect a brand's character while delivering the worldwide competence required to scale.

"Our joint objective has always been to make Luxury Ayurveda a worldwide recognised cornerstone of modern beauty. Ayurveda is not folklore; it is a sophisticated system of science, ritual, and overall well-being. By combining our tradition with The Estée Lauder Companies' operational power, we can convey this insight to a global audience while maintaining the same purity, elegance, and high standards that Forest Essentials is known for today. The following phase is about continuity and growth. We continue to drive the brand from India, focusing on operational excellence and devotion to our Indian customers while carefully expanding worldwide."

For more than two decades, The Estée Lauder Companies has made a significant contribution to India's luxury beauty landscape, with 14 of its brands in Skin Care, Makeup, Fragrance, and Hair Care serving consumers nationally. This significant acquisition confirms the company's long-term commitment to the market's high-growth prestige beauty business, as well as its founder-first strategy of championing distinctive, culturally anchored brands with global resonance. This strategy is also represented in the Company's BEAUTY&YOU India project, which seeks for, promotes, and supports the next generation of India-focused beauty entrepreneurs.

The corporation has also prioritised social investments in the market, allocating more than $14 million to promote health, education, leadership, and life skills through collaborations with local non-governmental organisations. These strategic and social investments deepen The Estée Lauder Companies' long-term commitment to India, bolstering the company's position in one of the world's most vibrant beauty markets and introducing Indian innovation to a worldwide audience.

Source: Estee Lauder Companies