FMCG company Emami Ltd has increased its existing strategic stake of 33.09 percent to 45.96 percent in Helios Lifestyle Pvt Ltd.
In a regulatory filing, Emami said that this investment is in line with the company's strategy of leveraging emerging online opportunities brought about by rapid digitization. With this investment, Emami has further strengthened its position as the largest shareholder of The Man Company (TMC).
Helios owns the fast-growing male grooming brand TMC, which offers a head-to-toe range of premium men's grooming products in the bath and body, beard management, shaving, and perfumes category.
Emami had previously acquired a 33.09 percent 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 omnichannel premium brand particularly in the online space and lifestyle stores."
Hitesh Dhingra, Co-Founder & MD, Helios Lifestyle, added, "We have always been very excited about our strategic partnership. We are delighted to receive 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."