Emami to acquire remaining 49.6 pc stake in 'The Man Company

New Delhi: Kolkata-based company reports that there is a significant increase in the market growth of Indian male grooming products. We are pleased to have invested in 'The Man Company' not only because we saw its great potential, but also because we were impressed and happy with the founder's vision and dedication to building it into a strong brand. "We are thrilled to elevate the brand's growth with the successful acquisition of the company," it stated.

At the company's recent AGM, Emami Chairman R S Goenka stated that they will continue to seek opportunities for non-organic and strategic expansion into new product categories. Emami, who has previously bought AloFrut, Creme21 and Zandu, will keep looking for similar growth chances to venture into new sectors and broaden its market reach.

According to Emami's most recent yearly report, 45 percent of its total revenue in FY24 originated from purchased brands, with a rise in the percentage of income generated from urban areas. Emami, the owner of brands such as Navratna, Boroplus, Zandu, Fair and Handsome, Kesh King, and Dermicool, had recorded a revenue of Rs 2,921.57 crore in FY24. Emami, a leading FMCG company from India, revealed on Saturday that they have purchased the remaining 49.6 percent of Helios Lifestyle, the parent company of 'The Man Company' male grooming brand. According to a statement from Emami, Helios Lifestyle is already a subsidiary of Emami with a 50.4 per cent shareholding.

It was stated that Emami's acquisition of Helios will enhance its position in the rapidly expanding digital-first premium male grooming sector. Emami had previously purchased 33.09 percent of Helios' equity in two separate portions - one in December 2017 and the other in February 2019. Afterwards, it raised its ownership to 50.4 percent in 2022.

The Man Company, a brand focused on digital platforms, provides high-quality grooming products for men in various categories such as fragrances, skin care, hair care, body care, and beard care. The sector holds significant opportunities for development and expansion. According to the statement, Emami is already involved in the male grooming sector with its brand Fair and Handsome. The Kolkata-based company reports that there is a significant increase in the market growth of Indian male grooming products. At the company's recent AGM, Emami Chairman R S Goenka stated that they will continue to seek opportunities for non-organic and strategic expansion into new product categories. Emami, who has previously bought AloFrut, Creme21 and Zandu, will keep looking for similar growth chances to venture into new sectors and broaden its market reach.

Source-PTI