Emami announced on Saturday the acquisition of the remaining 49.6 percent of Helios Lifestyle. Photo: Facebook
Local FMCG major Emami on Saturday announced the acquisition of the remaining 49.6 percent stake in Helios Lifestyle, owner of male grooming brand The Man Company.
Helios Lifestyle is now a subsidiary of Emami with a 50.4 percent stake, according to a statement from Emami.
“The completion of Emami’s acquisition of Helios will strengthen its presence in the digital-first, fast-growing premium men’s grooming segment,” he said.
Emami had previously acquired a 33.09 percent stake in Helios in two tranches: one in December 2017 and the other in February 2019. It subsequently increased the stake to 50.4 percent in 2022.
The Man Company, a digital lifestyle brand, offers premium men’s grooming products across categories including fragrance, skin care, hair care, body care and beard care.
“This segment offers enormous potential for innovation and growth. Emami is already an active player in the men’s beauty products segment through its Fair and Handsome brand,” the statement said.
According to the Kolkata-based company, Indian men’s grooming products are rapidly gaining ground, driving impressive market growth.
“We are pleased to not only have invested in The Man Company as we could foresee its huge potential, but are also impressed and happy with the promoter’s vision and commitment to making it a formidable brand. With the completion of the 100 per cent acquisition of the company, we are excited to take the brand to its next level of growth,” he said.
Earlier this month, Emami Chairman RS Goenka said at the company’s annual general meeting that it would continue to explore inorganic and strategic growth opportunities to enter new product categories.
Emami, which has acquired AloFrut, Creme21 and Zandu in the past, will continue to explore these growth opportunities, allowing it to enter a new segment and expand its playing area.
In its latest annual report, Emami said 45 percent of its revenue in fiscal 2024 came from acquired brands and the proportion of revenue from non-rural geographies has increased.
Emami, which owns the brands Navratna, Boroplus, Zandu, Fair and Handsome, Kesh King and Dermicool, reported a turnover of Rs 2,921.57 crore for FY24.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First published: August 31, 2024 | 12:05 pm IS
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