Kolkata, Dec 7 (IANS) FMCG major Emami Ltd on Thursday said it will make a strategic investment in Helios Lifestyle Pvt Ltd, owner of the male grooming brand 'The Man Company', with an acquisition of 30 per cent equity stake for an undisclosed consideration.
The acquisition of stake by the company is significant as it marks the its entry in the fast-growing online male grooming segment.
"Rapidly growing male grooming portfolio supported by digital marketing and online sales is an emerging growth segment in the FMCG space," company's Director Harsha V Agarwal said.
"This investment is in line with the company's strategy of leveraging online opportunities brought about by rapid digitalisation which is the future and will also help us to be present in the premium end of growing male grooming segment."
The equity stake will be acquired by December 31, 2018 through infusion of required funds in Helios, the company said.
Helios Lifestyle Co-founder and MD Hitesh Dhingra said male grooming segment is hugely untapped in India. Barring few categories like fragrances, men end up using products meant for women. The space is being disrupted by start-ups globally using digital medium as a platform for marketing and distribution.
"The segment offers a huge headroom for innovation and growth," he added.