KKR, the investment firm, has taken a $625M majority stake in Indian beauty brand Vini Cosmetics, as the business continues to grow in its home country and abroad.
The Indian retailer sells products such as toiletries, deodorants, cosmetics and other personal care products, and they sell throughout India, South Asia and the Middle East. This new injection from KKR will help the brand to expand its e-commerce platform, grow into new categories and broaden its distribution networks.
“Vini has experienced remarkable growth over the last 11 years, but we believe we are in the early stages of what our brands can deliver as consumer demand for high-quality personal care products continues to explode in India, South Asia and other fast-growing markets around the world,” said Vini Chairman and Joint-Managing Director Darshan Patel.
“KKR has a proven track record of investing in the growth of some of India’s most innovative and disruptive home-grown champions, as well as in leading consumer and personal care companies globally. We look forward to leveraging their global platform, resources and operational expertise.”
“We are excited to work with Vini and their team to capture new growth opportunities stemming from a young, emerging middle-class that increasingly seeks upgraded products,” said KKR Partner Gaurav Trehan. “Our investment in Vini also underscores KKR’s long-term commitment to support India’s innovative and dynamic companies as they become leaders in their industries.”
