New Delhi, June 28 FMCG company Emami Ltd has increased its existing strategic stake of 33.09 per cent to 45.96 per cent in Helios Lifestyle Pvt Ltd.
In a regulatory filing, Emami said that the nature of consideration was cash. However, it did not disclose the investment amount due to "reasons of confidentiality".
This investment is in line with the company's strategy of leveraging emerging online opportunities brought about by rapid digitisation, said a regulatory filing. With this investment, Emami has further strengthened its position as the largest shareholder of TMC.
Helios owns the fast-growing male grooming brand "The Man Company" (TMC) which offers a head-to-toe range of premium men's grooming products in bath & body, beard management, shaving & perfumes category.
Emami had previously acquired 33.09 per cnet equity stake in Helios, in two tranches, with one in December 2017 and the latter in February 2019.
Harsha V. Agarwal, Director, Emami Ltd said: "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."
Hitesh Dhingra, Co-founder & MD, Helios Lifestyle said: "We have always been very excited about our strategic partnership. We are delighted to receive the much needed support from our strategic partner, Emami. 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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