Marico to acquire 45% stake in male grooming products company Zed Lifestyle
Marico announced that it is making a strategic investment in Zed Lifestyle by acquiring 45% stake in the company for an undisclosed amount. The company said that the equity stake shall be acquired over a period of two years, through primary infusion and secondary buy-outs.
Zed Lifestyle owns 'Beardo', a male grooming brand founded by entrepreneurs Ashutosh Valani and Priyank Shah in June 2016 in Ahmedabad. Marico is look to targeting the market which is Rs 3,200 crore and is growing at a double digit CAGR.
Marico is currently present in India through its Set Wet brand in the mass segment, with future plans to expand into categories beyond deodorants and gels. Marico views this investment in Zed Lifestyle as a stepping stone towards its ambition of strengthening its presence and widening its portfolio in this segment.
Beardo's product portfolio includes growth oil, wax and shampoo for beard; wax and serum for hair; lotion, soap and facewash for skin. Beardo has a strong presence in the online channel and salons and almost 3/4th of its revenue is generated through online channels.
Saugata Gupta, MD and CEO of Marico said, “We are impressed with the founders and the velocity of growth of the business since inception. It fast-forwards our journey towards nurturing a future-ready male grooming portfolio and brand in the online and salon space. This partnership will help us to access emerging niches at the premium end, and will turbocharge our digital marketing and social media engagement capability.”