Published
Feb 26, 2019
Download
Download the article
Print
Text size

Emami infuses funds in ‘The Man Company’, increases stake to 30 percent

Published
Feb 26, 2019

Home-grown FMCG major Emami Ltd has increased its stake in Helios Lifestyle Pvt Ltd which owns ‘The Man Company’ with the second tranche of funding. The funds will be used by the men’s grooming start-up to fuel its offline expansion.
 

Emami infuses funds in ‘The Man Company’ - The Man Company


The Man Company has witnessed strong growth since its launch in the booming Rs 16,000 crore ($2.3 billion) men-grooming market and expecting to turn profitable in another 14 months. It will focus on tier 2, 3 cities for offline growth and is also looking at corporate tie-ups to boost sales.
 
With the investment, Emami is looking to scale up its presence in the premium end of the growing male grooming segment and also plans to take ‘The Man Company’ to international markets in the coming years.

 “We received the first tranche around a year back and the second tranche has come in,” Hitesh Dhingra, founder and managing director of The Man Company told BusinessLine.
 
“The Man Company has a monthly turnover of Rs 4 crore (projected turnover of Rs 46-48 crore at the end of this fiscal). Existing channels (like online) are unit economics positive already. But in another 14 months, we should be profitable at a company-level,” he added.
 
The Man Company currently has three exclusive brand outlets in Chandigarh, Ludhiana, and Delhi. It gets majority of its sales from its own website and other e-commerce platforms. It sells premium products for bath and body, beard management, shaving, and perfume.

Copyright © 2024 FashionNetwork.com All rights reserved.