Marico buys 45 % stake in Zed Lifestyle

In a bid to widen its consumer base in the fast developing online grooming segment for males, the consumer product maker-Morico has bought 45 per cent stakes in the Ahmedabad-based Zed Lifestyle for an undisclosed amount. The strategic investment will be completed over two years, by the means of primary infusion and secondary buy outs.   

The over 3,200 crore worth male grooming market, has been growing at a double digit CAGR in the recent past. While, Zed Lifestyle has been operating in this market since June 2016, under the brand name 'Beardo' with a wide

 product line, entailing growth oil, wax and shampoo for beard; wax and serum for hair; soaps; lotions; and face wash among its other products.

The brand has a strong presence in the online market for male grooming, with 75 per cent of its revenue being generated from the online sales channel.   

The unison of the companies is likely to aid Marico in widening its reach to untapped markets, besides stimulating the company's digital marketing and social media engagements; and the investment will pose as a stepping stone for Marico, marching towards strengthening its market base in the segment. 

Besides also satiating the company's endeavour to invest in emerging startups as an incubator. 

At present, Marico has a strong presence in the Indian mass segment, via its deodorant brand 'Set Wet', while the company is planning to expand into categories beyond deodorants and gel, for male grooming.