Acquisition · Commerce & Consumer Brands

Emami acquires 60% stake in IncNut Digital for ₹321 crore

What they do

IncNut Digital owns D2C personalised beauty brands Vedix and SkinKraft

Emami will buy 60% for up to ₹321 crore cash, with remaining 40% over 4.5 years

The deal puts Emami in the high-growth digital-first personalised beauty segment

Emami Limited's board approved the acquisition of a 60% stake in IncNut Digital on 7 May 2026.
The acquisition value is up to ₹321 crore in cash for the 60% stake.
Emami will acquire the remaining 40% stake in two tranches over the next 4.5 years.
The valuation for the remaining stake will be based on future performance metrics.
The deal includes performance-linked adjustments over a 24-month period.
IncNut Digital is the parent company of D2C personalised beauty brands Vedix and SkinKraft.
This acquisition positions Emami in the high-growth digital-first personalised beauty segment.

Emami already owns D2C brands The Man Company and Brillare in beauty and grooming.
Emami is an FMCG company with brands like BoroPlus, Navratna, Fair and Handsome, and Zandu.
Emami's market capitalisation is approximately ₹19,974 crore.
Emami's stock on NSE on 7 May 2026 was ₹457.60, up 1.19% from the previous close.

IncNut Digital operates through its subsidiary IncNut Lifestyle Retail.
It owns D2C personalised beauty brands Vedix and SkinKraft.
Vedix offers customised Ayurvedic haircare and wellness products.
SkinKraft provides dermatology-led personalised skincare and haircare solutions.
IncNut uses data-driven diagnostics, AI-led assessments, and customised formulations.
It has a subscription-led business model with high repeat usage.
IncNut was incorporated in Telangana in July 2011.
Its consolidated turnover was ₹175.1 crore in FY25, ₹196.5 crore in FY24, and ₹231.9 crore in FY23.