BIA Brands Acquires Asa Beauty to Expand Beauty Product Portfolio
- ByStartupStory | March 14, 2024
Fast-Moving Consumer Goods (FMCG) brand, BIA Brands, has announced its acquisition of Asa Beauty, a renowned beauty products brand, the company stated.
“This strategic acquisition will help BIA to expand its presence in the Beauty and Personal Care (BPC) segment,” the statement elaborated.
“Asa Beauty has set new standards in clean, natural, vegan, and cruelty-free makeup,” claimed the mother and daughter-in-law duo behind the brand, Asha Jindal Khaitan and Sukriti Khaitan.
Founded in June 2022 by Sudhakar Adapa, BIA Brands has rapidly established itself in physical retail. The acquisition of Asa Beauty reflects its commitment to a sustainable and inclusive beauty culture.
Sudhakar Adapa, founder of BIA Brands, expressed his enthusiasm about the acquisition, stating, “This acquisition is not just about expanding our product range; it’s about embracing and promoting a beauty philosophy that values ethical practices and environmental responsibility.”
Asha Jindal Khaitan, the founder of Asa Beauty, commented on the acquisition, expressing confidence in BIA Brands’ capabilities. “We are excited about the future and the opportunities this acquisition opens up for Asa Beauty to make a more substantial impact globally,” she said.
According to Redseer Strategy Consultants and Peak XV, the Indian beauty and personal care market is projected to reach $30 billion by 2027, accounting for about 5 per cent of the global market.
As of last September, the Indian beauty market remains underdeveloped, with per capita spending on beauty and personal care significantly lower compared to the US and China.
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