ITC raises stake in Mother Sparsh to 22%

ITC has invested Rs 13.5 crore to increase its stake in baby and mother care brand Mother Sparsh from 16% to 22%. The fast moving consumer goods business continues to focus on direct-to-customer brands positioned in the personal care space.

“The said acquisition is in line with the company’s continued interest in the fast growing direct to customer space in the ‘personal care’ category,” said the business in a regulatory filing, ET Retail reported.

Mother Sparsh recently announced that it is currently in advanced talks to raise between Rs 90 crore and Rs 100 crore via multiple investors in Series B funding. The brand plans to use this capital injection to both advance its research and development and to expand its product portfolio.

“Our recurrent funding aims to strengthen this mission through research and development in the space and offering one-of-its-kind solutions for needs of mothers and their little ones,” said Mother Sparsh’s co-founder and CEO Himanshu Gandhi, ET Bureau reported.

Mother Sparsh launched in 2016 as a direct-to-customer brand retailing online. The brand currently retails its range of personal care products for women, babies, and children through its dedicated e-commerce store as well as on a number of multi-brand online platforms.

ITC raises stake in Mother Sparsh to 22%

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