BIA Brands focused on fast-moving consumer brands acquires Asa Beauty

BIA Brands, a company focused on fast-moving consumer goods (FMCG), has recently acquired Asa Beauty, marking its second foray into the skincare sector. The move is part of BIA Brands' broader strategy to strengthen its position in the beauty and personal care (BPC) industry.

Founded in 2020 by Asha Jindal Khaitan and Sukriti Khaitan, Asa Beauty is known for its clean, natural, vegan, and cruelty-free makeup products. This follows BIA's previous acquisition of Mumbai-based TrueKind in December of the previous year.

Building a house of global brands

Founded in 2022 by Sudhakar Adapa and Anudeep Chappa, BIA Brands operates as a 'house of brands', aiming to build and scale brands with a global presence originating from India. 

"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.

Diversifying Portfolio and Leadership

Under the leadership of Karen Wilson Kumar, former manager of Louis Vuitton and Ferragamo, as the CEO of the BPC segment, BIA Brands is expanding its portfolio.

Besides skincare, BIA has ventured into the food and beverage (F&B) space with acquisitions including Brew & Bliss, Nut-O-Licious, and La Kah Fay, showcasing its diverse approach to building a robust presence across various FMCG sectors.

The growing attraction of FMCG startups

The Indian FMCG sector, particularly in beauty and personal care, continues to attract significant investor interest. With the beauty and personal care market projected to grow from $4 billion in 2022 to $28 billion by 2030 at a CAGR of 27%, BIA Brands' acquisition of Asa Beauty represents a strategic step towards capturing a larger share of this burgeoning market.