Kama Ayurveda raises Rs 100 crore in fresh funds from Spanish company

Spanish fashion house Puig Tuesday announced a Rs 100 crore investment in home-grown wellness chain Kama Ayurveda for an undisclosed stake. This is the second investment bagged by the company which runs 52 outlets across India after Lighthouse entered five years ago.

The funds raised from Puig will be used to expand both domestically and internationally, an official statement said. Terming it as a long term alliance, Puig chairman Marc Puig said the partnership will give it the ability to further develop retail business focus and also be present in a market with tremendous potential for beauty and personal care. "The partnership will enable us to offer Kama Ayurveda's authentic ayurvedic, plant-based, beauty and personal care products to a wide audience," he added.

Lighhouse's co-founder Sean Sovak said the company had only two stores when the private equity fund invested in it and stated that it will benefit from the Puig investment. "The ayurvedic beauty industry is on a fast-paced growth trajectory and this partnership with Puig will accelerate our growth both on the domestic front and globally," the company's co-founder and chief executive Vivek Sahni said.