Ghazal Alagh Founded Company Acquires 58% Stake In Nutraceutical Firm To Enter Rs 16,000 Crore Market

On Wednesday, Indian equity benchmarks traded higher, with the benchmark Nifty 50 index rising 0.96 per cent to 24,051.85. Despite the positive market sentiment, Honasa Consumer's (Mamaearth) share price traded at Rs 411.85, down 1.92 per cent during the session.

Honasa Consumer Acquires Majority Stake In Fluence Pharma

Honasa Consumer Limited, the parent company of brands such as Mamaearth, The Derma Co, BBlunt, Aqualogica and Dr Sheth's, has announced the acquisition of a 58 per cent majority stake in Fluence Pharma, marking its formal entry into India's rapidly growing nutraceuticals market.

The acquisition provides Honasa access to a segment valued at more than Rs 16,000 crore, driven by rising consumer demand for science-backed wellness, nutrition and beauty-from-within solutions. Fluence Pharma reported revenue of approximately Rs 40 crore with an EBITDA margin exceeding 20 per cent in FY26.

Expanding Beyond Traditional Beauty Products

To house the new business vertical, Honasa will establish a wholly owned subsidiary named Honasa Health Private Limited, which will focus on building a business-to-consumer nutraceuticals franchise.

The company plans to combine Fluence Pharma's patented clinical science, proprietary formulations and dermatologist network with Honasa's expertise in brand building, digital marketing and consumer distribution. The move is expected to strengthen Honasa's presence beyond topical beauty and personal care products into ingestible wellness and nutrition solutions.
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About Fluence Pharma

Fluence Pharma was founded by Amit Bhusari and Dr Rajendra Singh Rajput and operates on its patented Cyclical Nutrition Therapy (CNT) platform. The company offers condition-specific and gender-specific over-the-counter nutritional supplements designed for hair and skin-related concerns.

The platform is backed by patents in India and the United States and has developed a practitioner network of more than 3,000 dermatologists across India. The company focuses on clinically validated formulations aimed at addressing nutritional deficiencies linked to skin and hair health.

Management Commentary

Commenting on the acquisition, Varun Alagh, Co-founder and CEO of Honasa Consumer, said that the beauty and personal care industry is entering a new phase where consumers increasingly seek holistic solutions combining topical products with science-backed nutritional support.

He added that Fluence's patented Cyclical Nutrition Therapy platform has established a strong scientific foundation, and Honasa aims to scale the business through its newly formed Honasa Health subsidiary to create a consumer-focused nutraceuticals franchise.

Amit Bhusari, CEO and Co-founder of Fluence Pharma, stated that the partnership with Honasa would help expand the reach of its clinically backed solutions through Honasa's digital-first capabilities, consumer insights and distribution infrastructure.

About Honasa Consumer

Honasa Consumer Ltd is a digital-first beauty and personal care company founded in 2016 and headquartered in New Delhi. The company owns and operates several consumer brands including Mamaearth, The Derma Co, BBlunt, Aqualogica, Ayuga and Dr Sheth's.

The company develops products across baby care, skin care, hair care and personal care categories and distributes them through online platforms, modern trade, general trade and exclusive brand outlets. The acquisition of Fluence Pharma marks another step in Honasa's strategy to build a diversified portfolio of science-led consumer brands across beauty, wellness and nutrition.

What are your views on Honasa Consumer's entry into the nutraceuticals segment? Share your thoughts in the comments below.
Disclaimer: The article is for informational purposes only and not investment advice.