New Delhi, Jun 28: Kolkata-based FMCG firm Emami Ltd on Monday said it has hiked its stake in Helios Lifestyle Pvt Ltd to 45.96 per cent following the acquisition of additional shares.
The company, however, did not disclose the financial details of the transaction.
Emami had previously held a 33.09 per cent stake in Helios Lifestyle, known for its male grooming brand ‘The Man Company’ (TMC) through acquisition of shares in two tranches in December 2017 and the latter in February 2019, the company said in a regulatory filing.
“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 space and lifestyle stores,” said Emami Ltd Director Harsha V Agarwal.
Helios offers a “head-to-toe range of premium men’s grooming products in bath and body, beard management, shaving and perfumes category”. It 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.
It had a turnover of Rs 42.89 crore in FY20-21, up from Rs 39.34 crore in 2019-20, the filing added.
Agarwal further said, “this is also in line with our emerging focus on strategic investments in start-ups to incubate new engines of growth. This investment will further boost the growth engine of the company to accelerate its future growth process.”
This investment is in line with the company’s strategy of leveraging emerging online opportunities brought about by rapid digitisation. With this investment, Emami has further strengthened its position as the largest shareholder of TMC, the company added.
Helios Lifestyle Co-founder and Managing Director Hitesh Dhingra said, “Our strength of brand building through digital marketing, online selling and distribution coupled with Emami’s resources and knowledge will help us further scale new heights in near future.” (PTI)
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