Kolkata-headquartered FMCG company Emami Limited has raised its existing strategic stake of 33.09% in Helios Lifestyle Pvt Ltd — owner of the male grooming brand The Man Company (TMC) — to 45.96%, the company said in a regulatory filing.
Emami had previously acquired 33.09% equity stake in Helios Lifestyle, in two tranches, with one in December 2017 and another in February 2019.
This investment is in line with the company’s strategy of leveraging emerging online opportunities brought about by rapid digitization. With this investment, Emami has further strengthened its position as the largest shareholder of TMC, the statement added.
“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,” Emami Ltd Director Harsha V Agarwal said.
Helios Lifestyle co-founder and Managing Director Hitesh Dhingra added, “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.”
TMC currently operates through an omnichannel distribution model across platforms; its products are sold through the company’s own website as well as major e-commerce marketplaces, modern trade and premium lifestyle stores.