Emami plans to purchase 100% stake in Men's Grooming Startup 'The Man Company'
Emami, Fast moving consumer goods is set to procure 100 percent stake in men’s grooming brand The Man Company, two sources aware with subject told Entrackr.
Although the group has invested in a number of direct-to-consumer (D2C) businesses, this would be the group’s first D2C acquisition.
One unidentified source stated, “The acquisition was inevitable and a matter of time as Emami already has a controlling stake in The Man Company. The company will be worth approximately Rs 400 crore under the deal.”
As of July 2022, Emami already owned slightly more than half of The Man Company. TheKredible, a startup data intelligence platform, says that Hitesh Dhingra, Parvesh Bareja, and Bhisam Bhateja own about 35% of the company together.
In two installments, in December 2017 and February 2019, Emami acquired a 33.09 percent stake in The Man Company.
According to the sources, “The discussions are in the final stages, and if nothing goes wrong at the last moment, the transaction will be completed in a few weeks”.
We will convey their remarks in the event that they do. For the financial year finishing March 2024, The Man Company posted an income of 
185 crore. The company claims that its major marketplaces and website accounted for 70% of its revenue. With 14 crore in FY24, it claimed profitabilityâ at EBITDA level. It is important to point out that the business has only raised $9 million, or 75 crore, thus far.
185 crore. The company claims that its major marketplaces and website accounted for 70% of its revenue. With 14 crore in FY24, it claimed profitabilityâ at EBITDA level. It is important to point out that the business has only raised $9 million, or 75 crore, thus far.
The company with its headquarters in Gurugram faces a lot of competition from Beardo, which Marico bought for about 350 crore in July 2020.
350 crore in July 2020.
Beardo has not yet released its FY24 financial information, but its FY23 revenue was greater than 100 crore. In FY23, its competitor Ustraa posted comparable revenue.
100 crore. In FY23, its competitor Ustraa posted comparable revenue.
