Emami looks to tap male grooming segment with stake in 'The Man Company'

Emami Ltd is looking to tap into the ever growing men’s grooming segment by acquiring  30% stake in Helios Lifestyle Pvt Ltd which owns ‘The Man Company’ that sells premium grooming products for men.
 
Emami looks to tap male grooming segment with 'The Man Company' - The Man Company-Facebook

The deal is likely to be completed this month with Emami expected to put in a significant amount to further diversify its men’s product portfolio in India with the help of Helios which in turn expects to go global with the support of the former.
 
Emami posted strong results last quarter reporting Profit after Tax (PAT) of 99 crore rupees (approximately 14.8 million dollars) which was a rise of 49 percent. Male grooming was the best performing product categories last quarter with Emami own brands Fair and Handsome and HE Deodorants driving sales growth. So it is no surprise the company is investing to pick up a stake in a male grooming brand for further growth.
 
With the acquisition Emani will also enter the lucrative men’s online grooming segment which is likely to boost sales and improve its margins in the next quarter. The overall Indian men's grooming market is also projected to touch sales of Rs 14,200 crore (approx $2.2 billion) by 2020 according to Euromonitor report.
 
 “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,” Emami Ltd director Harsha V Agarwal said in a statement.
 
"Emami not only has very deep industry experience but also believes in our vision to make The Man Company a global brand," said Rohit Chawla, co-founder, Helios Lifestyle.
 
The Man Company which sells premium products through its website offers products for bath & body, beard management, shaving and perfume.

Copyright © 2018 FashionNetwork.com All rights reserved.

PerfumeWellnessHairBeauty - MiscellaneousBusiness