Riding on ITC bandwagon, Mother Sparsh targets Rs 300 crore revenue in 5 years
ITC’s vast distribution network and expertise in product development could be leveraged, Mother Sparsh hopes.
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ITC’s vast distribution network and expertise in product development could be leveraged, Mother Sparsh hopes.
ITC will buy a 16% stake in online-first mother and baby care Mother Sparsh brand for ₹20 crore ($2.7 million).
This investment is in line with the 'ITC Next' strategy articulated by Chairman Sanjiv Puri which aims to build a future-ready organization, noted the firm in an official statement.
ITC said the acquisition furthered its ambition of digital transformation of carving greater room in the digital space and developing digital-first FMCG brands.
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 ...