Companies

Actor Ayushmann Khurrana picks up stake in grooming start-up The Man Company

Abhishek Law Kolkata | Updated on October 21, 2019 Published on October 21, 2019

Actor Ayushmann Khurrana will be brand ambassador   -  PTI

Actor Ayushmann Khurrana has invested an undisclosed sum in male grooming start-up The Man Company. Khurrana will also be the company’s brand ambassador.

This, incidentally, is his first such investment and the actor joins the long list of Bollywood celebrities who have picked-up stake or invested in start-ups in recent times.

The actor was yet to respond to a mail from BusinessLine till the time of going to press.

According to Hitesh Dhingra, Founder and Managing Director, The Man Company, Khurrana has made a “strategic investment” and he does not hold any board position. Investments have been made in his personal capacity.

“Apart from making a strategic investment in the company, Ayushmann Khurrana will also be our brand ambassador,” he told BusinessLine. Funds will be used for branding and ramping up presence pan-India.

Launched in 2015 and owned by Helios Lifestyle, The Man Company has already received funding (in two tranches) from home-grown FMCG major Emami Ltd. Emami owns a 30 per cent stake in the start-up and has a board representation. The male grooming industry in India is pegged at ₹5,000 crore with an annual growth of 12.30 per cent with shaving and face-care occupying the lion’s share.

The Man Company competes with the likes of Happily Unmarried, Beardo , among other start-ups as well as big brands like Marico and HUL.

‘EBITDA’ positive

According to Dhingra, the company is hoping to be EBITDA positive by December. This will come on the back of increased sales. “ Beginning January, there has been a 2.5 times growth in both topline and bottomline,” he said.

The company has an annual run rate (annualised sales) of ₹140-150 crore.

Published on October 21, 2019
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