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FMCG giant Emami is poised to take full ownership of the popular men's grooming brand, The Man Company. Sources indicate that Emami will acquire the remaining stake in The Man Company, valuing the transaction at approximately Rs 400 crore.
This acquisition marks Emami's significant entry into the direct-to-consumer (D2C) market, transitioning from a minority shareholder to the sole owner of The Man Company. While Emami has invested in various D2C startups before, this will be its first out-and-out acquisition in the sector.
The Man Company, founded by Parvesh Bareja, Hitesh Dhingra, and Bhisam Bhateja, has seen exceptional growth, generating Rs 185 crore in revenue for the fiscal year ending March 2024. The brand is profitable at the EBITDA level, with online sales accounting for 70% of its revenue.
With this acquisition, Emami aims to solidify its position in the expanding men's grooming market, competing with major brands like Marico's Beardo and Ustraa.
26-07-2024
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