Kaya Limited (Kaya), wholly owned subsidiary of Marico Ltd, has acquired the aesthetics business of the Singapore based Derma Rx Asia Pacific Pte. Ltd. (Derma Rx) for an undisclosed amount. Derma Rx, led by one of Singapore’s eminent aesthetic physicians Dr S. K. Tan, operates three centres in Singapore and one in Kuala Lumpur. With a customer base of about 37,000, Derma Rx generates a turnover of about Rs 50 crore.
This acquisition provides Kaya access to an advanced range of skin care products and a strong sourcing network, including suppliers of products from developed nations.
Besides establishing itself in the South East Asian region, the company plans to introduce, over time, Derma Rx products into its range of offerings, at Kaya clinics in India and the Middle East. This would enable Kaya to increase its share of revenue, from sale of products, from the current level of about 13% to over 20%, said a marico statement. Derma Rx’s founders, Dr S. K. Tan and Ms. Janifer Yeo, will continue to be engaged in the business, for the next three years.
Ajay Pahwa, CEO, Kaya, said, “The acquisition opens up new vistas for our skin care solutions business. Derma Rx will add a clearly profitable segment to the Kaya portfolio, while Dr. Tan will add immense value, in bringing global skill sets into the Kaya fold.”
Added Milind Sarwate, Chief of Finance, HR & Strategy, Marico, “With this acquisition, nearly 45% of our skin care solutions revenue would come from overseas. This will strengthen our efforts to continue to bring world-class skincare solutions, to our customers.”
Kaya Ltd generated a turnover of over Rs 180 crore during 2009-10. Kaya Skin Clinic has 101 clinics across 27 cities in India, 13 clinics in the Middle East and 1 clinic in Bangladesh.