Emami increases its stake in grooming firm Helios Lifestyle to 46 percent
FMGC firm Emami Limited has increased its stake in grooming company Helios Lifestyle Pvt Ltd, taking it to 46 percent. Emami had previously acquired 33 equity stake in Helios Lifestyle, known for its male grooming brand, ‘The Man Company’ (TMC).
The company invested nearly Rs 50 crore ($7 million) to acquire the additional 13 percent stake. With this investment, Emami has further strengthened its grooming portfolio and expects strong online growth in the future.
Commenting on the investment, Harsha V Agarwal, director at Emami Ltd, in a statement said: "We are happy with our partnership with TMC and the growth the brand has delivered despite the unprecedented challenges in the last 1.5 years. 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 investment will further boost the growth engine of the company to accelerate its future growth process."
Hitesh Dhingra, co-founder of Helios Lifestyle, added: "We have always been very excited about our strategic partnership. 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.”
Gurugram-based Helios was founded by Hitesh Dhingra, Rohit Chawla, Parvesh Bareja, and Bhisham Bhateja. It launched The Man Company brand in 2015.
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