ITC agrees to invest in Mother Sparsh Baby Care Private Limited (‘Mother Sparsh’), an ayurvedic and natural personal care brand in the D2C space with a focus on the mother and baby care segment.
ITC has agreed to acquire 16 percent of the share capital of Mother Sparsh on a fully diluted basis.
This investment is in line with the ‘ITC Next’ strategy articulated by Chairman Sanjiv Puri which aims to build a future ready organization with a digital first culture.
One of the identified pillars of this strategy is to accelerate digital transformation by developing digital first FMCG brands. Recognising the significant potential of naturals and Ayurveda, ITC has taken this strategic step forward to invest in this segment. Over the last few years, ITC has been engaging with the start-up ecosystem whilst also exploring innovative distribution channels.
Sameer Satpathy, Chief Executive, Personal Care Products Business, ITC stated, “We believe that this investment provides an exciting opportunity which is in alignment with our aspiration to have a significant play both in the naturals and ayurvedic segment as well as in the D2C channel.”
Himanshu, CEO, Mother Sparsh said, “We are delighted that ITC has come forward to invest in our company which has been growing from strength to strength every year. We believe that this partnership will provide a unique synergy of strengths to build our brand further.”
(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)