Brands
Emami acquires 60 per cent stake in Incnut for Rs 321 crore
Deal brings Vedix and Skinkraft into Emami’s beauty portfolio.
MUMBAI: India’s beauty business is getting increasingly personal and Emami has just bought deeper into the trend. The FMCG major has signed a definitive agreement to acquire a 60 per cent stake in IncNut Digital Pvt. Ltd., the parent company behind personalised beauty and skincare brands Vedix and SkinKraft, in a deal valued at Rs 321 crore. The acquisition gives Emami a stronger foothold in the fast-growing personalised beauty and personal care segment, where algorithms, skin profiles and customised routines are becoming as important as celebrity endorsements and shelf space.
And Emami is not stopping at majority ownership.
The company said it plans to acquire the remaining stake in IncNut over the next four-and-a-half years in two phases, with the final valuation tied to future business performance through a pre-agreed framework.
IncNut has emerged as one of India’s early movers in the personalised beauty category through its direct-to-consumer brands Vedix and SkinKraft.
Vedix blends Ayurvedic principles with data-led diagnostics to create customised formulations based on an individual’s prakriti, lifestyle and wellness profile. SkinKraft, meanwhile, positions itself at the intersection of dermatology and technology, offering tailored skincare and haircare solutions backed by clinically validated ingredients.
Together, the two brands have built strong traction among digitally native consumers increasingly seeking outcome-driven products rather than one-size-fits-all beauty solutions.
The deal also sharpens Emami’s broader beauty ambitions.
With existing investments in brands such as The Man Company and Brillare, the acquisition expands Emami’s playbook beyond traditional FMCG into premium, science-led and digitally distributed beauty categories.
Emami vice chairman and managing director Harsha Vardhan Agarwal said the company sees personalised beauty as a “significant long-term growth opportunity” both in India and internationally, especially as consumer demand shifts towards efficacy, customisation and specialised solutions.
For Incnut, the partnership brings scale muscle.
Founder and CEO Chaitanya Nallan said Emami’s distribution strength and consumer expertise would help accelerate innovation and expand the reach of Vedix and SkinKraft in a rapidly evolving market.
The acquisition also signals how legacy FMCG players are increasingly chasing high-growth digital-first brands to stay relevant in a beauty market being reshaped by personalisation, diagnostics and direct consumer engagement.
Because in today’s skincare economy, consumers no longer just want products off a shelf, they want products that feel like they were made for them alone.
