Emami picks up minority stake in US-based beauty products start-up

Pumps in $0.57 mn for a 7.54% stake, in its third such investment

On an investment spree, Emami Ltd has picked up a 7.54 per cent stake in US based start-up, Loli Beauty Inc, pumping in $0.57 million into the company.

This marks Emami’s third such investment in a start-up in the cosmetics and beauty care space, the other two being Gurgaon-based Helios Lifestyle and Ahmedabad-based Brillare Science last fiscal. It had created a Rs one billion fund to make strategic investments in start-ups or pump money into companies that make complementary products that Emami doesn't.

As per the agreement with Loli Beauty, Emami Ltd’s wholly-owned subsidiary in Dubai, Emami International FZE, will be in