Kolkata-based fast-moving consumer goods maker Emami Ltd has increased its exposure in Helios Lifestyle Pvt Ltd, a startup that sells grooming products under the brand The Man Company.
Emami, as per a press release, has upped its shareholding from 33.09% to 45.96%.
The company invested nearly Rs 50 crore to acquire the 12.87% stake. “The investment helps to accelerate our journey towards having a future-ready male grooming portfolio and building an omni-channel premium brand particularly in the online and lifestyle stores spaces,” said Harsha V Agarwal, director at Emami Ltd.
Emami had previously invested in The Man Company in February 2019 and December 2017.
Gurugram-based Helios was founded by Hitesh Dhingra, Rohit Chawla, Parvesh Bareja and Bhisham Bhateja. It launched The Man Company brand in 2015
The Man Company offers a head-to-toe range of premium men’s grooming products in bath and body, beard management, shaving and perfumes categories.
The company has an omni-channel presence across platforms and its products are sold through its own website as well as major e-commerce platforms, lifestyle modern trade stores and premium outlets.
The products are endorsed by Bollywood actor Ayushmann Khurrana, who also invested in the startup
“Our strength of brand building through digital marketing, online selling and distribution coupled with Emami’s resources and knowledge will help us scale new heights in the near future,” said Dhingra.
The Man Company competes with the likes of Bombay Shaving Company and Beardo which are also backed by consumer goods majors.
In January this year, Bombay Shaving Company raised Rs 45 crore in a funding round led by consumer goods giant Reckitt Benckiser.
In July last year, Marico Ltd, the maker of Parachute hair oil and Saffola cooking oil, bought the 55% stake it didn’t already own in Zed Lifestyle Pvt Ltd, which runs male grooming brand Beardo.
Early last year, Wipro Consumer Care, a unit of Wipro Enterprises Pvt Ltd, invested in Chandigarh-based male grooming startup LetsShave Pvt Ltd.