beardo

Leading FMCG group Marico has acquired Ahmedabad-based men’s grooming startup, Beardo.

It has done so by acquiring ☝️an additional 55% equity share in Beardo’s parent company Zed Lifestyle.

Marico had acquired a 45% stake in Beardo in 2017 with an aim to 💪strengthen its presence in the men’s grooming segment.

More about Beardo

Beardo was founded by Ashutosh Valani and Priyank Shah in 2015🗓️.

It offers a range of products, including beard oils, beard washes, face washes, soaps🧼 etc.

It had a turnover of Rs. 78 crores in FY 2019-20.

Actor Suniel Shetty is among one of the investors💰 in Beardo.

Recently the company signed up Hrithik Roshan😎 to be its brand ambassador.

The Market Scenario

In the past, grooming services for men traditionally included only the basic haircut💇🏻‍♂️ and shaving products.

But lately, metrosexual men have become more conscious🤔 of grooming and are now demanding a far wider range of products and services.

As a result, major brands such as Veet, Emami, Urbanclap, etc have recently entered⏩ into the men’s grooming segment.

The e-commerce giant, Amazon has also reported a double-digit growth📈 in this category.

The size of men’s grooming market in India was Rs. 9,000 crores in 2016.

It is projected🧐 to reach Rs. 40,000 crores by 2021.

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