FMCG major Marico takes over men’s grooming startup Beardo
Marico, FMCG major, has fully acquired Beardo, a startup company which operates into the men’s grooming market. In 2017 Marico had acquired 45 percent stake in Beardo to strengthen its presence in men’s grooming market.
Beardo is a men’s personal care and grooming brand founded in 2015 by Ashutosh Valani and Priyank Shah. It had a turnover of Rs 78.49 crore in FY 2019-20.
This move will help FMCG firm to extend its play into the segment. Marico has acquired the remaining 55 per cent share of Zed Lifestyle, Beardo’s parent firm.
Beardo recently had roped in Hritik Roshan as its Brand Ambassador. Sunil Shetty is also one of the investers of Beardo.