BIA Brands Marks Second Skincare Buyout With Asa Beauty

SUMMARY

This also marks BIA Brands’ second buyout in the skincare segment after it acquired Mumbai-based TrueKind in December last year

Founded by Sudhakar Adapa and Anudeep Chappa in 2022, BIA is akin to a ‘house of brands’ – which means it builds and scales brands. The platform aims to build global brands originating from India

It is pertinent to mention here that BIA had also made three acquisitions across the food and beverage (F&B) space, which include speciality coffee brand Brew & Bliss, flavoured nuts startup Nut-O-Licious and blends company La Kah Fay

Fast-moving consumer goods (FMCG)-focussed BIA Brands has bought beauty brand Asa Beauty for an undisclosed amount to expand its foothold in the beauty and personal care (BPC) space.

This also marks BIA Brands’ second buyout in the skincare segment after it acquired Mumbai-based TrueKind in December last year.

Founded in 2020 by Asha Jindal Khaitan and Sukriti Khaitan, Asa Beauty offers clean, natural, vegan and cruelty-free makeup, catering to a selective global clientele that values ethical practices and environmental responsibility.

Adapa, said, “Asa Beauty represents exactly what we aspire to bring under the BIA Brands umbrella – excellence, innovation, and sustainability.”

“With BIA Brands’ strong market presence and innovative approach, we are confident that the brand is in capable hands. We believe wholeheartedly that BIA Brands will elevate Asa Beauty to the heights it truly deserves,” said Asha Jindal Khaitan.

This acquisition comes three months after BIA Brands bought Mumbai-based TrueKind, marking its first acquisition in the skincare space.

Last year, the company onboarded former manager of Louis Vuitton and Ferragamo, Karen Wilson Kumar as its BPC segment’s chief executive officer.

Indian startups specializing in FMCG have been steadily attracting the attention of investors in recent years.

Recently, D2C beauty and personal care (BPC) brand Foxtale secured INR 119 Cr (nearly $14.4 Mn) in a funding round led by Singapore-based Panthera Growth Partners.

According to Inc42’s data, the beauty and personal care market size stood at $4 Bn in 2022, and is expected to reach $28 Bn by 2030 at 27% CAGR.