FMCG major Emami on Thursday announced that it will make a strategic investment in Helios Lifestyle, owner of the male grooming brand, The Man Company, with an acquisition of a 30% equity stake.
FMCG major Emami on Thursday announced that it will make a strategic investment in Helios Lifestyle, owner of the male grooming brand, The Man Company, with an acquisition of a 30% equity stake. The deal marks the Kolkata-based company’s foray into the fast-growing online male grooming segment. In a stock exchange filing, Emami said it will acquire the stake in two tranches. The company has already subscribed to equity shares representing 20.45% of the issued and paid-up equity share capital in Helios, and the remaining will be acquired in the second tranche to be completed by December next year. The value of the cash deal was not disclosed, citing confidentiality reasons. The brand, The Man Company (TMC), offers a head-to-toe range of men’s grooming products in the bath and body, beard management, shaving and perfumes categories. The products are currently sold online, majorly through Helios’s own website, according to a release issued by Emami.
Helios Lifestyle Pvt Ltd, which was incorporated in 2013, clocked a turnover of Rs 5.60 crore in the previous financial year. Commenting on the deal, Harsha V Agarwal, director of Emami, said: “We are very happy to announce this exciting partnership with Helios…Rapidly growing male grooming portfolio supported by digital marketing & online sales is an emerging growth segment in the FMCG space. This investment is in line with the company’s strategy of leveraging online opportunities brought about by rapid digitalisation which is the future and will also help us to be present in the premium end of growing male grooming segment.”
Helios Lifestyle co-founder & MD Hitesh Dhingra said, “The male grooming segment is hugely untapped in India. Barring a few categories such as fragrances, men end up using products meant for women. The space is being disrupted by start-ups globally using digital medium as a platform for marketing and distribution.” “Within a short span of time, TMC has become a key player in online men’s grooming segment in India and with the strategic association with Emami, we have found a perfect partner to help us accelerate our growth and take our brand to a new level,” Dhingra said.