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Exclusive: Emami set to acquire 100% stake in The Man Company

EntrackrEntrackr · 1y ago
Exclusive: Emami set to acquire 100% stake in The Man Company
Medial

Fast moving consumer goods company Emami is set to acquire 100% stake in men’s grooming brand The Man company, two sources familiar with details told Entrackr. While the group has backed several companies in the direct to consumer segment, this would be the first complete acquisition by the group in the D2C space. “The acquisition was inevitable and a matter of time as Emami already has a controlling stake in The Man Company,” said one of the sources requesting anonymity. “The deal will be worth around Rs 400 crore.” Emami already owned a little over 50% in The Man Company as of July 2022. According to startup data intelligence platform TheKredible, co-founders Hitesh Dhingra, Parvesh Bareja, and Bhisam Bhateja collectively own around 35% of the company. Emami acquired a 33.09% stake in The Man Company across two tranches which materialized in December 2017 and February 2019. “The discussions are in the final stages, and if nothing goes wrong at the last moment, the transaction will be completed in a few weeks from now,” said the source quoted above. Queries sent to Emami and The Man Company didn’t elicit any immediate response. We will carry their comments in case they do. For the fiscal year ending March 2024, The Man Company posted a revenue of Rs 185 crore. As per the firm, 70% of its revenues came from e-commerce channels, including major marketplaces and its website. It claimed EBITDA level profitability with Rs 14 crore in FY24. It’s worth highlighting that the firm has raised only Rs 75 crore ($9 million) to date. The Gurugram-based firm majorly competes with Beardo which was acquired by Marico in July 2020 in around Rs 350 crore. Beardo is yet to disclose its FY24 numbers but it did more than Rs 100 crore revenue in FY23. Its other peer Ustraa also posted similar revenue in FY23.

ixigo to acquire 60% stake in Spain’s Trenes for Rs 125 Cr, enters Europe

EntrackrEntrackr · 1m ago
ixigo to acquire 60% stake in Spain’s Trenes for Rs 125 Cr, enters Europe
Medial

**ixigo to acquire 60% stake in Spain’s Trenes for Rs 125 Cr, enters Europe** Online travel aggregator ixigo has approved the acquisition of a majority stake in Spain-based online train ticketing platform Trenes for a total investment of around Rs 125 crore. As part of the transaction, ixigo will acquire an upfront 60% stake in Trenes. Post-acquisition, Trenes will become a step-down subsidiary of ixigo. The company will also have the option to acquire the remaining shareholding at a later stage. Founded in 2013, Trenes operates across Spain and Southern Europe and is integrated with major Spanish and European rail operators, enabling multi-operator rail bookings. Spain’s rail market recorded 549 million passengers in 2024. Trenes reported operating revenue of around Rs 60 crore and a profit after tax of about Rs 15 crore in CY25. The acquisition is ixigo’s first major international deal and its strategic entry into Europe, a market widely regarded as the global benchmark for rail travel. ixigo expects to generate synergies by combining Trenes’ local market presence and rail integrations with its AI-led product capabilities and technology expertise. Founded in 2007 by Aloke Bajpai and Rajnish Kumar, ixigo operates an AI-based travel platform offering bookings across trains, flights, buses, hotels and cabs through its ixigo, ConfirmTkt and AbhiBus apps. The company reported over 54 crore annual active users in FY25. For the quarter ended December 2025, ixigo’s revenue from operations rose to Rs 317.6 crore in Q3 FY26 from Rs 242 crore in Q3 FY25, while profit increased 55% to Rs 24 crore from Rs 15.5 crore during the same period.

The Ayurveda Experience spends Rs 248 Cr on advertising for Rs 440 Cr revenue in FY25

EntrackrEntrackr · 4m ago
The Ayurveda Experience spends Rs 248 Cr on advertising for Rs 440 Cr revenue in FY25
Medial

The Ayurveda Experience spends Rs 248 Cr on advertising for Rs 440 Cr revenue in FY25 The Ayurveda Experience, a D2C brand focused on Ayurvedic beauty and wellness products, continued its growth trajectory in FY25 with a decent rise in revenue, though the company remained in the red due to high advertising and fulfillment costs. The company’s operating revenue grew 23% to Rs 440 crore in FY25 from Rs 358 crore in FY24, according to its financial statements sourced from the Registrar of Companies (RoC). The sale of products across its own platform and international marketplaces is the sole source of revenue for Ayurveda Experience. It also added Rs 8 crore from interest income, tallying the total revenue to Rs 448 crore during the fiscal year, up from Rs 361 crore in FY24. On the cost side, advertising and promotional expenses continued to dominate its cost structure, forming over 52% of total expenses, which rose 24% to Rs 248 crore during FY25. Order fulfilment costs grew 30% to Rs 78 crore, while employee benefit expenses rose 37% to Rs 56 crore. The cost of materials inched up marginally by 3% to Rs 37 crore. Overall, the firm’s total expenditure increased 23% to Rs 476 crore in FY25 from Rs 386 crore in FY24. The company’s expenses outpaced revenue growth, which resulted in the company’s losses increasing by 12% to Rs 28 crore in FY 25 from Rs 25 crore in FY24. Its ROCE and EBITDA margin stood at -22.09% and -7.50% respectively. On a unit basis, The Ayurveda Experience spent Rs 1.08 to earn a rupee of operating revenue in FY25, similar to the previous year. The company’s current assets stood at Rs 164 crore, including cash and bank balances of Rs 57 crore at the end of March 2025. According to startup data intelligence platform TheKredible, The Ayurveda Experience has raised a total of $41 million in funding to date, with Fireside Ventures and Anicut Capital as its lead investors. The company’s founder, Rishabh Chopra, owns 27.45% of the company. The company seems well placed to turn a profit by FY27, even as it has to contend with an increasingly cluttered market linked to the ayurveda and wellness movement taking root in relevant pockets of India and international markets. The high promotional expenses are a red flag, considering the case for significant word of mouth or brand recall in a category like ayurveda, where product usage is a clear statement of lifestyle choices and ‘against’ say other ‘chemical’ options available. Assuming a similar growth trajectory, the Rs 500 crore mark should be crossed in FY 26, a key milestone that will be a magnet for firms interested in acquiring businesses in the sector. Thus, investors in the Ayurveda experience will still have hopes that a profitable exit is not as unlikely, or as long a wait away as it might have seemed a couple of years ago.

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