Estee Lauder Purchases Stake In Indian Beauty Company

Jul 18, 2008 (financialwire.net via COMTEX) -- EL | Quote | Chart | News | PowerRating -- July 18, 2008 (FinancialWire) The Estee Lauder Companies Inc. (NYSE: EL | Quote | Chart | News | PowerRating) (Current Market Cap. US$8.53 Bil.) has purchased a minority stake in a privately held Indian company that manufactures, markets, and sells beauty products, under the Forest Essentials brand, which are based on Ayurvedic formulations. Terms of the agreement were not disclosed.

Forest Essentials, which was founded in 2000 by Mira Kulkarni, uses pure essential oils and natural plant extracts in its range of skin, body, and hair care products. Its portfolio of products is sold in the company's seven freestanding stores and in high-end hotels and spas across India.

The Estee Lauder Companies began selling its products in India in July 2005 with the opening of a freestanding M A C store in Mumbai. Currently it sells six brands in India, including M A C, Tommy Hilfiger, Donna Karan, Aramis, Clinique, and most recently Estee Lauder.

FinancialWire" is a fully independent, proprietary news wire service of Investrend Information (a division of Investrend Communications, Inc.). FinancialWire" news is written by professional journalists, dedicated to pure journalistic standards. FinancialWire" does not receive or accept any compensation from any individual or subject company (or representative thereof) for its news or opinions. All FinancialWire" news is available at http://www.financialwire.net . Please address any inquiries to feedback@financialwire.net .

Free annual reports for companies mentioned in the news are available at http://investrend.ar.wilink.com/?level=279 .

http://www.financialwire.net

Morning Coffee with TradingMarkets -- Free Newsletter

More News:   Market Updates | Stock Alerts | All Trading News | Stock Index