Published
Jan 29, 2019
Download
Download the article
Print
Text size

Emami acquires German personal care brand Creme 21

Published
Jan 29, 2019

Homegrown FMCG major Emami has acquired German personal care brand Creme 21 for an undisclosed amount to strengthen its foothold in the personal care and segment in India.
 

Emami acquires German personal care brand Creme 21 - Creme 21


Emami has witnessed strong growth in the personal care segment and has been making strategic investments in acquiring strategic stakes in new age companies in order to further boost its personal care segment to cater to the growing demand.
 
Indian beauty and personal care (BPC) industry is estimated to be worth USD 8 billion in which Emami currently holds a market share of less than 4 percent.

With the overall the market moving towards premiumisation, Emami is also looking to increase its market share with acquisitions of international companies to tap the growing premium segment.
 
Emami Director Harsha V Agarwal in a statement said, "We plan to leverage our existing network of distribution and infrastructure to grow the brand. Creme 21 is an iconic German brand that has a high brand recall. The brand has good potential for growth and we expect it to add value to our growth trajectory.
 
"This international acquisition is in line with the company's strategy for growth through the inorganic route. The acquisition is being funded from internal accruals."
 
Emami is hoping to close the year on a high and expects double-digit growth in the second half of the fiscal year 2018-19.

Copyright © 2024 FashionNetwork.com All rights reserved.