Emami Limited, one of the leading FMCG companies in India, has entered into an agreement for strategic investment in Brillare Science Pvt Ltd (“Brillare”) through compulsory convertible preference shares (CCPS), which on conversion will result in 26% equity stake in Brillare basis the achievement of agreed future performance of the company. Brillare owns the premium hair & skin care portfolio for use in professional salons.
Brillare offers premium hair & skin beauty products that are used and sold by experts in professional salons. All the products are based on natural ingredients. Brillare also provides customised beauty treatment which enables salon professionals to treat multiple hair & skin concerns simultaneously.
This arrangement is significant as it marks Emami’s entry in the growing Professional Salon channel/segment.
The desire to appear well groomed, increased disposable income, elevated standard of living, and urbanisation is contributing to the growth of the grooming industry for both the genders. With the rise in disposable income, both men and women are spending a handsome part of their earnings on their grooming sessions in spas and salons. This trend to appear well groomed has led to the growth of the professional spa and salon industry.
Mr Harsha V Agarwal, Director, Emami Ltd said, “We are very happy to announce this exciting partnership with Brillare. Brillare products are based on nature & science, resulting in high quality innovative products that are the perfect answers to today’s discerning consumers, who do not hesitate to spend a little more on premium quality professional treatment. We found Brillare’s thinking to be evolved and their innovative thoughts & ideas inspiring. The investment in Brillare is in line with the company’s strategy of exploring professional personal care segment through channels like hi-end salons that has the potential to become one of the key channels in the future that requires different capability, expertise and relevant products.
Commenting on the development, Mr Jigar Patel, Founder & CEO, Brillare said, “Emami with its strong business insight and deep industry experience is a perfect partner to help us accelerate our growth and take it to the next level. Together, we aim to become the most aspiring, innovative focused and consumer loved brand originated from India”
Mr Harsha V Agarwal, Director, Emami further added, “With increasing aspirations of people to look and feel good, demand for specialised & professional personal care products and treatments has increased. Brillare with its unique offering of natural yet effective products that can be customised to suit every client need, has the potential to meet the demand of this growing market.”