Emami Limited, an FMCG company in India, has signed a binding agreement with ‘Helios Lifestyle Pvt Ltd (Helios) which is known for its men’s grooming brand ‘The Man Company’. As per the report, Emami has agreed to acquire 100% ownership by acquiring remaining 49.60% stake. As per the report, Helios is already a subsidiary of Emami Ltd where Emami currently holds 50.40% stake.
Reportedly, ‘The Man Company’ is a digital-first lifestyle brand which offers men’s grooming products in fragrances, skincare, hair care, and beard management category. The products are available across various online and offline channels. The acquisition of Helios by Emami claims to strengthen its presence in the male grooming segment. “We had adopted the route of strategic investments in new-age startups very early to leverage online opportunities brought about by rapid digitalisation to incubate new engines of growth. These strategic investments help us to have footprints in emerging segments that align with evolving consumer preferences,” Harsha V Agarwal, vice chairman & MD, Emami Ltd said.
As per the report, Indian men have been increasingly becoming more aware of the need to appear well-groomed to stand out in a competitive environment. As a result, male grooming products are rapidly gaining traction, driving impressive market growth. The segment offers huge potential for innovation and growth. Emami is already an active player in the male grooming segment through its brand Fair and Handsome. “As we embarked on our journey, we noticed a shift in men’s grooming needs, with more men recognizing the importance of looking and feeling their best. Seeing this untapped potential, we took the opportunity and started the brand and partnered with Emami as a strategic investor in 2017. As we took the brand to a new level over the last few years, we now expect it to continue its growth trajectory with Emami who can further accelerate the same and make ‘The Man Company’ one of the leading brands in the segment,” Hitesh Dhingra, co-founder, Helios Lifestyle said.