FMCG firm Emami Ltd has upped its stake in Helios Lifestyle, known for its male grooming brand, The Man Company (TMC).
Emami said on Monday that it had increased its existing strategic stake of 33.09 per cent to 45.96 per cent in Helios Lifestyle (Helios) and with the investment, it had further consolidated its position as the largest shareholder of TMC.
Emami’s 33.09 per cent holding in the company was acquired in two tranches-–in December 2017 and then, February 2019.
Emami said the investment was in line with its strategy of leveraging emerging online opportunities brought about by rapid digitisation. Helios offers a head-to-toe range of men’s grooming products and has an omni-channel presence across platforms.
Commenting, Harsha V Agarwal, director, Emami said that the brand had delivered despite the unprecedented challenges in the last one-and-a-half years.
“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,” he said.
He also said that the move was in line with the company’s emerging focus on strategic investments in start-ups to incubate new engines of growth.
TMC’s monthly revenues, Emami said, had increased five times since its initial investment in December 2017.
Hitesh Dhingra, co-founder and managing director, Helios Lifestyle said, “Our strength of brand building through digital marketing, online selling and distribution coupled with Emami’s resource and knowledge will help us further scale new heights in near future.”
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