Future Group to Acquire Iraya to Compete With Rival Patanjali
Kishore Biyani, the founder and chief executive officer (CEO) of Future Group is eyeing to acquire the Gujarat-based Ayurveda company Iraya from Athena Life Sciences. Iraya is an ethical cosmetic brand which deals in herbal beauty and personal care products. This sector has lately seen a great success and Biyani is all set to enter it.
With this acquisition, Baba Ramdev’s ayurvedic brand Patanjali should gear up to face a tough competition in the market. Similar to Patanjali, Iraya sells ayurvedic products such as ayurvedic oil, facial massage cream, neem and basil soap, hair gel, nutrifying skin food and face wash, among others. It also deals in herbal products for anti-dandruff and hair re-growth treatment.
“We are in talks for acquisitions in the ayurvedic beauty space. Valuations m...