FMCG major Emami Limited has signed a binding agreement with ‘Helios Lifestyle Pvt Ltd (Helios), which is known for its men’s grooming brand ‘The Man Company’. Emami has agreed to acquire 100% ownership by acquiring remaining 49.60% stake. Helios is already a subsidiary of Emami Ltd where Emami currently holds 50.40% stake. The completion of the acquisition of Helios by Emami will strengthen its presence in the fast growing digital first premium male grooming segment, the company said.
‘The Man Company’, a digital-first lifestyle brand, offer head-to-toe range of premium men’s grooming products in Fragrances, Skin Care, Hair Care, Body Care and Beard Management category. The products are available across online and offline channels, all online marketplaces, including its own website, app, and Exclusive Brand Outlets (EBOs) and modern trade chains. ‘The Man Company’ is known for their expansive portfolio of products, which is inspired by nature and made with handpicked natural ingredients and are free of harmful chemicals.
Emami acquired a 33.09% stake in Helios Lifestyle in two tranches, first in December 2017 and then in February 2019. Subsequent investments were made by Emami, increasing its ownership to 45.96% by June 2021. In a strategic move, Emami converted its loan to Helios Lifestyle into equity shares, further boosting its stake to 50.40% by July 2022, thereby establishing Helios Lifestyle as a subsidiary of Emami.
The popular men’s grooming brand, The Man Company, achieved profitability with an EBITDA of over Rs 14 crore in the fiscal year 2024. The Man Company recorded revenues of Rs 185 crore for the fiscal year ending on March 31, 2024, with e-commerce channels contributing significantly, representing 70% of the total revenues.
“We had adopted the route of strategic investments in new-age startups very early to leverage online opportunities brought about by rapid digitalisation to incubate new engines of growth. These strategic investments help us to have footprints in emerging segments that align with evolving consumer preferences,” Harsha V Agarwal, vice chairman & MD, Emami Ltd said.
In 2017, Emami's initial strategic investment was directed towards 'The Man Company' brand, a decision that has proven to be highly successful. Over the years, its collaboration with the company has flourished, leading to its official incorporation as a subsidiary in 2022.
“We will continue to explore more such opportunities for strategic investment that have synergies with our existing line of businesses,” Agarwal said.
“As we embarked on our journey, we noticed a shift in men's grooming needs, with more men recognizing the importance of looking and feeling their best. Seeing this untapped potential, we took the opportunity and started the brand and partnered with Emami as a strategic investor in 2017. Within a short span of time, ‘The Man Company’ has become a key player in men’s grooming segment in India. As we took the brand to a new level over the last few years, we now expect it to continue its growth trajectory with Emami who has the ability to further accelerate the same and make ‘The Man Company’ one of the leading brands in the segment,” said Hitesh Dhingra, Co-founder, Helios Lifestyle.
In March, Emami announced that it will acquire the remaining 4.64% stake in its subsidiary, Brillare Science, a professional beauty care company that offers a range of products in skin, hair, and body care.