Emami on Monday said it would make a strategic investment in Brillare Science through compulsory convertible preference shares, which on conversion would result in a 26 per cent stake in Brillare for Emami. The move marks Emami’s foray into the Rs 30 billion salon cosmetics segment. Brillare owns premium hair and skin care portfolio for use in professional salons through three brands.
Though financial details of the transaction were not disclosed, sources put the valuation of the investment at Rs 750-100 million. Emami will have one director on Brillare’s board after the stake transfer. “The funds will be used to grow our business. We plan to reach out to over 5,000 salons this year with our products,” Vaishali Jigar Patel, director at Brillare said. “The investment in Brillare is in line with the company’s strategy of exploring the professional personal care segment through channels like high-end salons, which has the potential to become one of the key channels in the future that requires different capability, expertise and relevant products,” said Harsh Agarwal, director at Emami.