Lotus Herbals gains 20 pc stake in Yogic Mysteries Medical services
Cosmetics and beauty products maker Lotus Herbals has acquired a 20% stake in direct-to-consumer nutraceuticals and health supplement startup Yogic Secrets Healthcare, it said on Tuesday.
Yogic Secrets has also raised an undisclosed amount of strategic funding from the family office of Lotus Herbals.
“The growth in the herbal segment shall contribute to about 30% of the nutraceuticals supplements market in India,” said Nitin Passi, managing director of Lotus Herbals.
This is the premium beauty products company’s fifth investment in emerging brands in the beauty and wellness space. The infusion of capital will enable Yogic Secrets to scale up operations in India, and also expand globally, the statement said.
Anil Khandelwal, managing director of Yogic Secrets, said with the Lotus Herbals investment, the company would be able to scale up to provide preventive and curative healthcare.
Last month, Lotus Herbals invested in clean beauty marketplace Vanity Wagon in a pre-series funding. Other recent investments by Lotus Herbals include acquisition of 25% stake in clean beauty brand Conscious Chemist, strategic stake in dermaceuticals brand Fixderma, and 100% acquisition of the luxury ayurveda brand SoulTree.
Apart from a retail footprint across 700 cities and over 1,000 distributors, Lotus Herbals has six direct-to-consumer brand webstores, the company said.