Comments
FMCG major, Marico has announced a strategic investment in Zed Lifestyle Private Limited (“Zed Lifestyle”) with an acquisition of 45 per cent equity stake for an undisclosed consideration. Zed Lifestyle Private Limited houses “Beardo”, a fast-growing male grooming brand founded by two entrepreneurs Ashutosh Valani and Priyank Shah in June, 2016 in Ahmedabad, India.
The Rs 3,200 crore (Circa USD 500 million) male grooming market, growing at a double digit CAGR, is a strategic category for Marico. The Company 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.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.