New Delhi, Jan 12 (PTI) Mensa Brands has acquired majority stake in aromatherapy and natural personal care brand Florona for an undisclosed amount.
Florona is a bestselling brand in the US and Canada and offers more than 70 types of natural oils, including essential oils for diffusers as well as cold-pressed carrier oils, a joint statement said on Wednesday.
Mensa Brands Founder and CEO Ananth Narayanan said, “The natural personal care market is growing exponentially across the globe and together we are building a leading brand in the segment.” “We are confident that with our technology, operations, and digital brand-building expertise, we can grow the brand 10X in the next 5 years,” he added.
It plans to launch a range of aromatherapy bath products and natural skincare and haircare solutions and expand its presence to new markets, he further said.
Aayush Gupta, founder of Florona, said, “I believe it is the perfect time to build a world-class personal care brand from India and with the Mensa team we are primed to achieve our goal.” India is one of the largest exporters of essential oils, worth around USD 250 million in 2021.
Mensa Brands is building a tech-led house of brands by investing in and scaling up digital-first brands across diverse categories including fashion and apparel, home and garden, beauty and personal care. PTI KRH ABM ABM
source: PTI News