Emani will acquire the stake in two stages it has already bought 20.45% and will purchase the remaining by the end of December 2018
Fast-moving consumer goods maker Emami Ltd said it has agreed to buy a 30% stake in Helios Lifestyle Pvt. Ltd, which owns the male grooming brand The Man Company.
The deal marks Emami’s foray into the fast-growing online male grooming segment, the company said in a stock-exchange filing.
Emani will acquire the stake in two stages; it has already bought 20.45% and will purchase the remaining by the end of December 2018. It didn’t disclose the deal value citing confidentiality reasons.
The Man Company offers a head-to-toe range of men’s premium grooming products in bath and body, beard management, shaving and perfume category. The company sells its products online through its own website and other e-commerce platforms such as Amazon, Flipkart and Nykaa.
Harsha V Agarwal, director, Emami said “This investment is in line with the company’s strategy of leveraging online opportunities brought about by rapid digitization, which is the future, and will also help us to be present in the premium end of growing male grooming segment”.
The company, which was set up in 2013, was initially engaged in the trading business. It reported revenue of Rs 5.6 crore in the fiscal year ended 31 March 2017, compared with Rs 1.1 crore in the previous financial year.
Helios Lifestyle’s Dhingra said that the male grooming segment is hugely untapped and is being disrupted by startups globally using digital media for marketing and distribution.