Actor Ayushmann Khurrana joins the list of Bollywood celebrities investing in a startup. The actor invested an undisclosed amount in Helios Lifestyle, the parent entity of The Man Company, a men’s grooming brand. The actor will also be the company’s brand ambassador.
According to Hitesh Dhingra, Founder and Managing Director, The Man Company, said that the actor has made a “strategic investment” and he does not hold any board position. He also said “Investments have been made in his personal capacity. With his support, we are going to double down on our mission to encourage men to bring out the gentleman within them, by offering them world-class grooming essentials and empowering them to look and feel their very best.”
The Man Company was launched in 2015 and is owned by Helios Lifestyle. The startup has previously received funding from home-grown FMCG major Emami Ltd. Emami ltd. holds a 30 % stake in the company and has a board representation.
The male grooming industry in India is pegged at ₹5,000 crore with an annual growth of 12.30 % with shaving and face-care occupying the lion’s share. As per a report by the Associated Chambers of Commerce and Industry of India on Men’s grooming products, the market is expected to grow by 45 per cent, expecting to hit Rs 35,000 crore in three years.
In 2019, the startup has established 1,000 brand touch points including premium salons, retail stores, health and beauty stores, and exclusive pop-ups, spreading over 30 cities, the company said.
While the company has been focussed on aggressive growth, the company also faces stiff competition from the likes of Happily Unmarried, Beardo, including big brands like Marico and HUL.
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