Honasa Consumer acquires CosmoGenesis' assets

27 May 2024 , 03:19 PM

On Monday, May 27, Honasa Consumer announced the acquisition of assets from CosmoGenesis Labs, a leader in premium skincare formulation and development.

At the time of writing, the shares were trading at ₹424.85 which is a 1.34% dip than the previous close. The stock has gained a total of 26.03% in the last one year and 0.47% decline since the beginning of the year.

Honasa Consumer is the parent company of brands like Mamaearth, The Derma Co, Aqualogica, and Dr Sheth’s.

CosmoGenesis Cosmetics is a sole proprietorship founded by Rohini Manoj in 2011. The acquisition highlights Honasa’s commitment to research-driven innovation and its ability to cater to Indian consumers’ needs. CosmoGenesis has supported over 5,000 cosmetic and personal care formulations for businesses in India.

The R&D team at CosmoGenesis comprises experts in various cosmetic fields, with experience in natural and organic formulations, and operates a state-of-the-art laboratory.

Ghazal Alagh, CIO and co-founder of Honasa Consumer, stated the acquisition will help the company explore new sub-categories and enhance R&D capabilities.

Rohini Manoj noted that CosmoGenesis has collaborated with Honasa Consumer on various innovations and shares a commitment to excellence in natural beauty care.

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