Leading fast moving consumer goods (FMCG) company Emami has made a strategic investment in male grooming brand ‘The Man Company’ (TMC). Emami has picked up a minority stake of 30% for an undisclosed sum to be acquired by December 31, 2018, through infusion of required funds in brand owning company Helios Lifestyle Pvt Ltd (HLPL). The acquisition also marks Emami’s entry in the fast-growing online male grooming segment.
Harsha V Agarwal, director, Emami Ltd, said, “Rapidly growing male grooming portfolio supported by digital marketing and online sales is an emerging growth segment in the FMCG space. 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.”
Earlier this year in March, Harsh Mariwala’s Marico has acquired about 45% stake in Ahmedabad-based men’s grooming brand and start-up called Beardo that sells beard oils, beard waxes, soaps and other grooming products. The deal size was pegged around Rs 50-60 crore and the stake will be acquired over a period of two years through primary infusion and secondary buy-outs, Marico had said in a statement.
Agarwal added that, “With the growing demand of men’s grooming products, many of the start-ups entered the male grooming segment in the last two years. However, they focus mainly on beard or any specific grooming segment of men. TMC is different from them as it provides complete product portfolio for men by offering head-to-toe range of grooming products.”
Offering a head-to-toe range of premium men’s grooming products in bath and body, beard management, shaving and perfumes category, TMC products are sold online mainly through the company’s own website – themancompany.com. All the products are based on premium essential oils and are free of harmful chemicals, claims the company.
“Male grooming products are becoming increasingly popular and the market is witnessing a rapid growth. Indian men are increasingly becoming conscious about their looks and they want to look well-groomed and physically more appealing to get more attention and stand out in a clutter. The segment offers a huge headroom for innovation and growth,” Emami said in a statement adding that the company is currently present in the male grooming segment through its brands ‘Fair and Handsome’ and ‘HE’.
According to Hitesh Dhingra, co-founder and managing director, Helios Lifestyle, male grooming segment is hugely untapped in India. “Barring few categories like fragrances, men end up using products meant for women. The space is being disrupted by start-ups globally using Digital medium as a platform for marketing and distribution. Within short span of time, TMC has become a key player in online men’s grooming segment in India and with the strategic association with Emami, we have found a perfect partner to help us accelerate our growth and take our brand to a new level.”