FMCG maker Emami Ltd may seek complete ownership of Helios Lifestyle, which owns men’s grooming brand The Man Company, said two industry executives. Emami currently holds a 50.4% stake in Helios.
A potential deal for the remaining 49.6% stake will mark the first full acquisition by Emami of a direct-to-consumer brand.
The Man Company sells premium grooming essentials and fragrances targeted at urban male consumers, mainly through e-commerce and large retail chains.
Emami had acquired a 33.09% stake in Helios Lifestyle in two tranches, in December 2017 and February 2019. Then in June 2021, it made further investments, raising its holding 45.96%. Subsequently in July 2022, Emami converted its loan given to Helios Lifestyle into equity shares, further boosting its stake to 50.40%. Helios Lifestyle then became a subsidiary of Emami.
Emami didn’t respond to email queries.
The Man Company has become one of the fastest growing brands for Emami. Emami’s president (finance) Rajesh Sharma told analysts in May that its two D2C brands-The Man Company and Brillare-together notched sales of more than ₹200 crore in fiscal 2023-24. “And of that, the bulk of the revenues have come from The Man Company where it is now Ebitda positive since last year. So, there we are not incurring any losses anymore,” he had said. The management further told investors that The Man Company grew by 86% last fiscal.
Helios was a startup founded by Hitesh Dhingra, Parvesh Bareja and Bhisam Bhateja. It sells head-to-toe range of grooming products for men which includes beard products, skin & hair care products, deodorant and perfumes.
