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Honasa Strengthens R&D Capabilities With Strategic Acquisition Of Cosmogenesis Labs



2024-06-12 08:01:31 Business

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Gurugram, May 27, 2024: Honasa Consumer Ltd., holding company of Mamaearth, The Derma Co., Aqualogica, Dr Sheths and a fast-growing House of Brands for personal care, is proud to announce the strategic acquisition of the assets of CosmoGenesis Labs (CosmoGenesis Cosmetics a sole proprietorship firm), a renowned leader in cosmetic formulation and development within the field of premium skincare solutions. With this acquisition, Honasa takes a significant leap in research driven innovation and underscores the capabilities to stay ahead of the curve in terms of crafting for Indian consumers.

Founded by Ms. Rohini Manoj in 2011, CosmoGenesis has solidified its position as a frontrunner in the cosmetic formulation and development industry in India. With a steadfast dedication to innovation and quality, CosmoGenesis has been instrumental in supporting a staggering number of over 5000 cosmetic and personal care formulations for businesses in India.

At CosmoGenesis, the R&D team boasts extensive expertise in various facets of cosmetics, coupled with rich experience in natural & organic formulations. With its fully equipped, state-of-the-art laboratory, CosmoGenesis demonstrates its dedication to excellence, offering global expertise to new-age companies and established brands worldwide.

Sharing her thoughts on the acquisition, Ghazal Alagh, CIO and Co-founder, Honasa Consumer Limited, comments, Innovation has been at the core of Honasa Consumer and data-driven consumer research has kept us ahead of the curve in the personal care segment. This strategic alliance with CosmoGenesis will exponentially increase our ability to research new trends with greater efficiencies and help craft best-in-class products. It helps lay foundational setting for transformative growth and innovation in profound ways. This acquisition empowers us to tap into new sub-categories, leverage cutting-edge research and development, and ultimately, deliver exceptional value to our consumers. With CosmoGenesis in Honasa family, we\'re confident that our ability will drive and scale meaningful growth and make a lasting impact in the beauty industry while staying true to our values of innovation, quality, and sustainability. Together, we are set to elevate the standards of skincare, providing unparalleled benefits to our consumers, employees, and stakeholders.

\"We have been working with Honasa Consumer for sometime now and have worked on some incredible innovations. As we join forces with Honasa, I am thrilled about the immense potential this partnership holds,\" says Ms. Rohini Manoj, Founder of CosmoGenesis. \"Our shared commitment to innovation and excellence, particularly in botanical ingredients and natural beauty care, ensures that we will continue to create groundbreaking products that our consumers can trust.\"

Teaming up with CosmGenesis, Honasa is striving to offer an even wider range of innovative, safe, and science-backed skincare solutions to new-age and next-gen consumers.


ABOUT HONASA CONSUMER LTD

Honasa Consumer Limited (HCL), is a purpose-driven house of brands with a digital-first approach creating the beauty and personal care organisation of the future. Built on a consumer-insights led innovation and channel approach, the company has built an inhouse portfolio of digital-first consumer brands like Mamaearth, The Derma Co., Aqualogica, Ayuga and Staze. Apart from the owned brand, they have acquired stakes in BBlunt and Dr. Sheths. HCL has become a profitable and the largest beauty and personal care company in India in terms of revenue from operations for the Financial Year 2022 in 7 years of inception. Through their online channel, they serviced over 18,000 pin-codes in India, during the six months period ended September 30, 2022. Through their omni-channel distribution network across online and offline channels, they have been able to make their products available pan-India across 700+ districts in India, during the six months period ended September 30, 2022. In the same period, they are estimated to have retailed products through more than 100,000 FMCG retail outlets in India.

Company :-Avian WE

User :- Ashutosh Mishra

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