News

Fashion

Staff Reporter

, India

Published:

2 years ago

KKR buys stake in India’s Vini Cosmetics for $625m

The beauty brand has 700,000 points of sales in the country.

Global investment firm KKR is buying a majority stake in India-based beauty products company Vini Cosmetics, from the company’s founder group and Sequoia Capital, for about $625m (INR46b), according to a press release.

The co-founders of the beauty brand will continue to hold a significant stake in Vini and collaborate with KKR. Existing investor WestBridge Capital will acquire a further stake from the Founder Group to ramp up its shareholding in Vini.

Founded in 2010, Vini boasts 700,000 points of sale and 3,000 dealers, with a sales force of 1,200 people. Its products are also sold internationally through a network of general trade and modern trade channels covering 50 countries mainly in South Asia and the Middle East.

The transaction is expected to close in July 2021, subject to customary closing conditions.

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