New Delhi, Nov 26 (SocialNews.XYZ) Conglomerate ITC will acquire 16 per cent share capital of baby and mother care products brand Mother Sparsh, on a fully diluted basis.
Mother Sparsh specialises in premium ayurvedic and natural personal care brands in the D2C (direct to consumer) space. It has a wide range of baby and mother care products based on ayurveda for potent product delivery.
As per ITC, this investment is in line with the 'ITC Next' strategy articulated by Chairman Sanjiv Puri which aims to build a future ready organisation with a digital first culture. Notably, one of the identified pillars of this strategy is to accelerate digital transformation by developing digital first 'FMCG' brands.
Besides, ITC has been focusing on strengthening the D2C platforms of distribution and has created the ITC eStore.
"We believe that this investment provides an exciting opportunity which is in alignment with our aspiration to have a significant play both in the naturals and ayurvedic segment as well as in the D2C channel," ITC Chief Executive, Personal Care Products Business, Sameer Satpathy said.
"'Mother Sparsh' has, within a short span of time, evolved into an effective D2C brand with a range of innovative products and a lot of promise."
Source: IANS
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