Kaya Limited
Kaya Limited is an Indian skincare, haircare, and bodycare treatment provider operating under the Kaya Clinic brand.
Last updated August 26, 2026
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Overview
Kaya Limited is an Indian beauty and personal-care services company best known for its Kaya Clinic network. The business provides professionally delivered skincare, haircare, and bodycare treatments rather than functioning primarily as a packaged-goods cosmetics label. Its public-facing identity has also been written as Kaya Clinic and Kaya Skin Clinic. The concept originated with Harsh Mariwala, chairman of Marico, who developed a prototype for a specialist skin-treatment clinic at Marico's corporate office in 2002. Kaya was incorporated on 27 March 2003 as part of Marico Limited. The concept represented a move into organized, clinic-based beauty services, combining consultation and treatment with a branded network rather than relying exclusively on conventional retail distribution. Kaya expanded its clinic footprint in India and later developed an international presence in West Asia. The business has been described as operating more than 75 clinics across 26 Indian cities, alongside 23 clinics across three West Asian countries. It has also operated e-commerce portals serving customers in India and the Middle East. Its service scope covers skin concerns, hair-related treatments, and bodycare, although the specific treatment portfolio can vary by market and over time. The company's corporate structure changed substantially during the 2010s. In 2010, Kaya Limited acquired Singapore-based Derma Rx. That asset was subsequently divested to KV Asia Capital in December 2013. Kaya was demerged from Marico in September 2013 and became an independent entity under the name Marico Kaya Enterprises. Its shares began trading on India's National Stock Exchange and BSE in July 2014. A later scheme of arrangement suspended trading in Marico Kaya shares in May 2015, after which shareholders received an equal number of Kaya Limited shares. Kaya Limited shares were listed on the exchanges in August 2015. The consumer brand was refreshed in 2016, when the company adopted the Kaya Clinic identity. This rebranding emphasized the clinic network and its specialist-treatment positioning. The company's shareholder structure reported in August 2015 included a majority promoter-group holding, with the remainder distributed among individual public shareholders, foreign institutions, mutual funds, bodies corporate, and other holders. In June 2017, investor and fund manager Porinju Veliyath, acting through Equity Intelligence India Ltd, acquired a 5% stake in Kaya Limited. Kaya's proposition is centered on accessible, branded aesthetic and dermatological care delivered through clinics and supported by digital commerce. Its operating model combines physical consultation and treatment locations with online channels in selected markets. The available reference material does not establish a current chief executive, precise headquarters, current shareholding, current clinic count, or a current corporate website, so those fields are left unspecified.
History
Kaya Limited began as a specialist beauty-services concept developed within Marico. Harsh Mariwala conceptualized a prototype Kaya Skin Clinic at Marico's corporate office in 2002. The company was incorporated on 27 March 2003 as part of Marico Limited, establishing a dedicated platform for clinic-based skincare, haircare, and bodycare treatments. The Kaya model differed from a conventional cosmetics company because its core proposition was professional consultation and treatment delivered through branded locations. The company expanded its Indian clinic network and later established operations in West Asia. Reference material describes more than 75 clinics in 26 Indian cities and 23 additional clinics across three West Asian countries, together with e-commerce portals serving India and the Middle East. In 2010, Kaya Limited expanded through the acquisition of Derma Rx, a Singapore-based company. The acquisition gave Kaya an additional regional asset, but the company later exited the investment: Derma Rx was divested to KV Asia Capital in December 2013. Kaya's ownership and listing structure also changed during this period. The business was demerged from Marico in September 2013 and became an independent entity known as Marico Kaya Enterprises. Its shares commenced trading on the National Stock Exchange of India and BSE in July 2014. In May 2015, a scheme of arrangement suspended trading in Marico Kaya shares. Shareholders were allotted an equal number of Kaya Limited shares, which were listed on the Indian exchanges in August 2015. The brand underwent a consumer-facing identity change in 2016, when it rebranded as Kaya Clinic. The new identity placed greater emphasis on the clinic network and the specialist nature of its services. Kaya continued to operate across skincare, haircare, and bodycare, using clinics and online commerce as complementary channels. The shareholder information reported in August 2015 identified the promoter group as the majority holder, with 60.70% of shares. Individual public investors held 20.93%, foreign institutions 6.30%, mutual funds 3.63%, bodies corporate 5.65%, and other holders the remaining portion. In June 2017, Equity Intelligence India Ltd, the portfolio management firm associated with investor Porinju Veliyath, acquired a 5% stake in Kaya Limited. The available reference material does not provide enough information to establish the company's current executive leadership, exact headquarters, current ownership breakdown, or present clinic count. Those details remain open for verification.
- 2017
Five-percent stake acquired by Equity Intelligence India
[1]Equity Intelligence India Ltd acquired a 5% stake in Kaya Limited on 8 June.
- 2016
Rebrand to Kaya Clinic
[1]The company changed its consumer-facing identity to Kaya Clinic.
- 2015
Kaya Limited shares listed
[1]Following a scheme of arrangement, Kaya Limited shares were listed on Indian exchanges in August.
- 2014
Marico Kaya shares begin trading
[1]Shares of Marico Kaya Enterprises began trading on India's NSE and BSE in July.
- 2013
Derma Rx divested and Kaya demerged
[1]Kaya sold Derma Rx to KV Asia Capital in December and was demerged from Marico in September.
- 2010
Derma Rx acquired
[1]Kaya Limited acquired Singapore-based Derma Rx.
- 2003
Kaya incorporated within Marico
[1]Kaya was incorporated on 27 March 2003 as part of Marico Limited.
- 2002
Kaya clinic concept developed
[1]Harsh Mariwala developed a prototype for Kaya Skin Clinic at Marico's corporate office.
Products and positioning
A specialist, clinic-led skincare and personal-care services brand combining professional consultations and treatments with branded clinics and regional e-commerce.
Skincare services · 2003
Kaya Clinic skincare treatments
Clinic-based skincare services are the central offering of the Kaya brand. They are delivered through consultations and professional treatments addressing customers' skin and aesthetic-care needs. The available reference does not provide a complete treatment menu or distinguish which services are currently offered in each market.
Haircare services
Kaya haircare treatments
Kaya provides haircare-related treatments as part of its broader clinic-led personal-care proposition. These services complement its skincare and bodycare activities and are delivered through the Kaya clinic network. Specific procedures and current availability by country are not detailed in the supplied sources.
Bodycare services
Kaya bodycare treatments
Bodycare treatments form another part of Kaya's professional beauty-services portfolio. The offering extends the brand beyond facial skincare into broader personal care, with services delivered through physical clinics and supported by the company's wider consumer-commerce presence.
Beauty e-commerce
Kaya e-commerce
Kaya has operated e-commerce portals in India and the Middle East. These online channels provide a digital route to the brand's beauty and personal-care proposition and complement its physical clinic network. The supplied material does not specify the current catalog, platform addresses, or fulfillment structure.
Marketing campaigns
- 2016Kaya Clinic rebrand
India · West Asia
Kaya refreshed its consumer-facing identity as Kaya Clinic, making the clinic format and specialist-treatment proposition more prominent.
Outcome. The rebrand established Kaya Clinic as the principal public-facing identity described in subsequent references.
Brand decisions
2016
Adopt the Kaya Clinic brand identityStrategyBackground
The company sought to sharpen the market identity of its clinic-led skincare and beauty-services business.
Action taken
Kaya rebranded itself as Kaya Clinic.
Aftermath
Kaya Clinic became the principal brand name used to describe the clinic network.
2015
Implement share-swap scheme and list Kaya LimitedStrategyBackground
A corporate scheme was used to transition shareholders from the Marico Kaya structure to the independent Kaya Limited entity.
Action taken
Trading in Marico Kaya shares was suspended in May, shareholders received an equal number of Kaya Limited shares, and the new shares were listed in August.
Aftermath
Kaya Limited became the listed entity associated with the independent business.
2013
Separate Kaya from MaricoStrategyBackground
Kaya's corporate structure was reorganized so the business could operate as an independent entity rather than as a Marico division.
Action taken
Kaya was demerged from Marico in September 2013 and operated as Marico Kaya Enterprises.
Aftermath
The company proceeded toward independent exchange trading in 2014 and later became Kaya Limited following a further scheme of arrangement.
2013
Divest Derma RxM&ABackground
After acquiring Derma Rx in 2010, Kaya revised its portfolio and exited the Singapore-based asset.
Action taken
Kaya sold Derma Rx to KV Asia Capital in December 2013.
Aftermath
The divestment preceded Kaya's separation from Marico and its transition to an independent listed structure.
2010
Acquire Derma RxM&ABackground
Kaya sought to expand its regional skincare-services platform through the purchase of a Singapore-based company.
Action taken
Kaya Limited acquired Derma Rx.
Aftermath
Kaya later divested Derma Rx to KV Asia Capital in December 2013.
Recent events
Kaya appoints Rajiv Suri as Global CEO[2]
Reported:
Kaya Limited’s board appointed Rajiv Suri as Global Chief Executive Officer, subject to applicable approvals.
Sources2 sources
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