Root Ventures-backed EM & EM Personal Care sold its personal care brand Coccoon to Ador Group arm 1908 E-ventures Pvt Ltd, the company said in a statement on Wednesday.
Financial details of the deal were not disclosed. However, 1908 E-Ventures said that the official acquisition took place on 14 January and was completed after six weeks of planning.
The company said it plans to build on its clean beauty platform-led house of brands strategy with the acquisition of Coccoon.
It also aims to further boost the ecosystem for Coccoon and accelerate the brand’s growth with new product launches and marketing.
The 114-year-old Ador Group, which claims to have over 40 years of experience in the manufacturing and distribution of skin care and personal care products, had founded 1908 E-Ventures in 2019.
1908 E-Ventures runs an online platform and community called Sublime Life that connects and accesses ethical, sustainable, and clean brands from across the globe, the company said, adding that the buyout of Coccoon will lead Sublime Life to register a 10X growth in the next four years.
“With Coccoon, the company will further enhance its product offering with performance-based and concern-based ingredients and products. We look forward to growing the brand exponentially in the coming years,” said Deep Lalvani, spokesperson for 1908 E-Ventures.
Coccoon, which offers protection, pampering and nourishment products in the skin and hair care category for men and women, was founded by Mohit Lalvani in 2017.
It was founded as a part of EM & EM Personal Care.
The brand offers products in the skin and hair care segment like sulphate free shampoos, nourishing hair masks, hair serums, polishing mists, and products like repairing night creams, moisturizers, and face washes.
1908 E-Ventures said Coccoon’s product range is targeted at urban women and men who are conscious of the kind of products that they use on their skin and hair.
“This acquisition is a step in the right direction for us as it will unlock strong collaborations between both the brands and drive Coccoon’s growth by leveraging the global reach of 1908 E-ventures and their varied skilled capabilities,” said Mohit Lalvani, Founder, Coccoon.
Root Ventures had led a Rs 2.5 crore round in EM & EM Personal Care, which also owns pet grooming brand Captain Zack, in January 2019, VCCircle had reported exclusively.