Emami Limited, the FMCG firm, has increased its existing strategic stake of 33.09 percent to 45.96 percent in Helios Lifestyle Pvt Ltd. It had previously acquired 33.09 percent equity stake in Helios Lifestyle, known for its male grooming brand “The Man Company” (TMC) in two tranches, with one in December 2017 and the latter in February 2019.
This investment is in line with the company’s strategy of leveraging emerging online opportunities brought about by rapid digitization. With this investment, Emami has further strengthened its position as the largest shareholder of TMC, it said in a press statement.
“The Man Company” (TMC) offers a head-to-toe range of premium men’s grooming products in bath and body, beard management, shaving and perfumes category. The brand caters to the mass premium segment. TMC’s performance as monthly revenues have increased by five times since Emami’s initial investment in December 2017.
Harsha V Agarwal, Director, Emami Ltd said, “The investment helps to accelerate our journey towards having a future-ready male grooming portfolio and building an omni-channel premium brand, particularly in the online space and lifestyle stores. This is also in line with our emerging focus on strategic investments in startups to incubate new engines of growth. This investment will further boost the growth engine of the company to accelerate its future growth process”.
Hitesh Dhingra, Co-founder & MD, Helios Lifestyle said, “Our strength of brand building through digital marketing, online selling and distribution coupled with Emami’s resource and knowledge will help us further scale new heights in near future.”