FMCG firm Emami Ltd today said it has signed an agreement to invest in beauty care brand Brillare Science through compulsory convertible preference shares, to enter into the professional personal care segment.
The compulsory convertible preference shares (CCPS), on conversion will result in 26 per cent equity stake in Brillare, basis the achievement of agreed future performance of the company," Emami Ltd said in a statement.
Brillare Science owns the premium hair and skin care portfolio for use in professional salons and operates under three brands -- Brillare Science, Elementi Puro and Root Deep.
"The investment in Brillare is in line with the company's strategy of exploring professional personal care segment through channels like hi-end salons," Emami Ltd Director Harsha V Agarwal said.
This arrangement is significant as it marks Emami's entry in the growing professional salon segment, the company said adding that the desire to appear well groomed, increased disposable income, elevated standard of living, is adding to the growth of the grooming industry for both the genders.
Brillare Founder and CEO Jigar Patel 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.
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