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Marico acquires 60% equity stake in Apcos Naturals

Marico Limited (BSE: 531642, NSE: “MARICO”) has announced a strategic investment in Apcos Naturals Private Limited with an acquisition of 60% equity stake for an undisclosed consideration. This equity stake will be acquired over a period of two years, through primary infusion and secondary buy-outs. Co-founded by CEO, Arush Chopra, and Brand Director, Megha Sabhlok, Apcos Naturals Private Limited owns “Just Herbs” (, a line of pure, bespoke and Ayurvedic results-driven skin and hair care offerings, made from certified organic and wildcrafted ingredients collected from across India.

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The investment is in line with Marico’s strategy to accelerate its digital transformation journey through building scalable digital-first brands, either organically or inorganically, as well as to premiumise its play in personal care.

Just Herbs was launched with the vision to create a brand that stands not only for luxury but also contributes towards building a world where beauty is more inclusive, transparent and wholesome. The range of hair and skin care products are a combination of the purest of plant ingredients and essential oils. With a bridge-to-luxury positioning, the brand follows the exacting principles of Ayurveda and aromatherapy, with all its products certified by the Ministry of Ayush, Government of India. While the brand garners majority of its business through its own D2C website, it is also available on online marketplaces (Amazon, Flipkart and Nykaa) and its exclusive offline stores in select cities.

Saugata Gupta, MD and CEO, Marico Limited, said, “Just Herbs presents an exciting and differentiated opportunity to have a meaningful play in Ayurveda-led beauty categories. The brand has built a healthy consumer franchise on the back of the quality and efficacy of its offerings. The digital presence it has built in a short span of time is impressive and we strongly believe in its potential to reach critical mass over the next couple of years. This investment is another step towards our aspiration to build a portfolio of at least three INR 100-crore plus digital brands within the next three years.”

Arush Chopra, CEO and Co-founder, Apcos Naturals Private Limited, said, “We are delighted to have entered into a strategic partnership with Marico. The values, entrepreneurial spirit and agility that define Marico’s culture fits perfectly with our vision for the future. We believe that Marico’s evolved capabilities, processes and systems will complement our ambition to scale up online as well as offline. We are very positive about the future prospects of this partnership and look forward to a fruitful journey with the team.”


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