Emami to acquire majority stake in personal care co IncNut Digital for ₹321 cr

Kolkata: Emami will acquire a 60% stake in IncNut Digital, owner of direct-to-consumer beauty and personal care brands Vedix and SkinKraft, for ₹321 crore in an all-cash deal. The Kolkata-based FMCG company will acquire the remaining 40% stake over the next four-and-a-half years in two tranches, with the valuation linked to future performance.

Emami said the acquisition would strengthen its presence in the fast-growing personalised beauty and personal care segment and support its next phase of growth.

"While the broader BPC market continues to expand, meaningful differentiation remains limited, with only a few players offering deeply personalised, outcome-driven solutions," Emami vice-chairman and managing director Harsha Vardhan Agarwal said. "As consumer preferences increasingly shift towards efficacy and customisation, we see personalised beauty as a significant long-term growth opportunity in India and globally."


Telangana-based IncNut posted sales of ₹175 crore in FY25. Its revenue has declined year-on-year over the past three fiscals, while Emami's stock exchange filing did not disclose IncNut Digital's FY26 sales figure. IncNut Digital founder and CEO Chaitanya Nallan said the partnership with Emami represents a key turning point for Vedix and SkinKraft. "Leveraging Emami's consumer expertise and strong execution capabilities, we will fast-track innovation, scale reach and lead the evolution of personalised beauty industry," he said.