The new face of masculinity

CONSUMER FIRMS ARE TAPPING GROWTH OPPORTUNITIES IN MEN’S GROOMING BRANDS THAT SPECIALISE IN CERTAIN SEGMENTS

- CHRISTINA MONIZ

WHEN HONASA CONSUMER, parent company of Mamaearth, announced its acquisition of the three-year-old Reginald Men in a %195-crore deal, it didn’t come as much of a surprise.

The move not only marks Honasa’s entry into the men’s personal care space but also leverages Reginald Men’s expertise in specific segments like sunscreens and serums, Ghazal Alagh, Mamaearth co-founder, explained on LinkedIn.

Earlier this year, Godrej Consumer Products Ltd (GCPL) completed its acquisition of men’s grooming brand Muuchstac in a %450-crore deal. The company, which previously acquired Raymond’s Park Avenue that offers deodorants for men, is betting big on Muuchstac’s bestselling face wash.

To be sure, FMCG players have been tapping growth opportunities in men’s beauty for a while now. In 2017, Marico and Emami acquired stake in Beardo and The Man Company, respectively. These recent acquisitions indicate that companies are taking a more strategic view of the category and tapping specific, high-growth segments.

Says Sudhir Sitapati, MD & CEO, GCPL, “The acquisition of Muuchstac was strategically about facial cleansing for men, rather than male grooming per se. It represents an upgrade from soap to face wash, has a strong P&L, and added capabilities. Those were the factors that drove the acquisition, and these parameters will guide our future M&A decisions too.”