Honasa Consumer, which owns FMCG brands Mamaearth and The Derma Co, on Monday said it has acquired cosmetic formulation maker CosmoGenesis Labs for an undisclosed amount.
Honasa Consumer, which owns FMCG brands Mamaearth and The Derma Co, said it has acquired cosmetic formulation maker CosmoGenesis Labs for an undisclosed amount.
Honasa Consumer, which owns FMCG brands Mamaearth and The Derma Co, on Monday said it has acquired cosmetic formulation maker CosmoGenesis Labs for an undisclosed amount.
This acquisition will help the company, which was listed in November last year, to have a significant leap in research-driven innovation, the company said.
CosmoGenesis boasts of extensive expertise in various facets of cosmetics, coupled with rich experience in natural & organic formulations, it said.
Commenting over the development, Honasa Consumer CIO and Co-Founder Ghazal Alagh said this alliance with CosmoGenesis will exponentially increase Honasa's ability to research new trends with greater efficiencies and help craft best-in-class products.
"It helps lay foundational setting for transformative growth and innovation in profound ways. This acquisition empowers us to tap into new sub-categories, leverage cutting-edge research and development, and ultimately, deliver exceptional value to our consumers," she said.
CosmoGenesis Founder Rohini Manoj said, "Our shared commitment to innovation and excellence, particularly in botanical ingredients and natural beauty care, ensures that we will continue to create groundbreaking products that our consumers can trust."