KOLKATA: FMCG-to-tobaccoto-hospitality conglomerate ITC is acquiring a 16% stake in Mother Sparsh Baby Care, an ayurvedic and natural personal care brand. Mother Sparsh operates in the directto-consumer (D2C) space. It has a wide range of products — sold via both offline and online channels.
It has been learnt that ITC invested a little over Rs 20 crore in the company, which would translate into a valuation of around Rs 125 crore for Mother Sparsh. A top executive at ITC said that this investment is in line with the ‘ITC Next’ strategy articulated by its chairman Sanjiv Puri, which aims to build a future-ready organisation with a ‘digitalfirst’ culture. One of the identified pillars of this strategy is to accelerate digital transformation by developing digitalfirst FMCG brands.
ITC has also been focusing on strengthening D2C platforms of distribution and has created a vibrant ITC eStore.
It has been learnt that ITC invested a little over Rs 20 crore in the company, which would translate into a valuation of around Rs 125 crore for Mother Sparsh. A top executive at ITC said that this investment is in line with the ‘ITC Next’ strategy articulated by its chairman Sanjiv Puri, which aims to build a future-ready organisation with a ‘digitalfirst’ culture. One of the identified pillars of this strategy is to accelerate digital transformation by developing digitalfirst FMCG brands.
ITC has also been focusing on strengthening D2C platforms of distribution and has created a vibrant ITC eStore.
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