Ayushmann turns investor, picks up stakes in The Man Company
After celebrities like Deepika Padukone and Aishwarya Rai Bachchan, actor Ayushmann Khurrana has joined the list of investors from B-town. The popular Bollywood star, known for movies like Badhaai Ho and Bareilly Ki Barfi, has infused an undisclosed amount in Helios Lifestyle Private Limited, the start-up behind famous men's grooming products brand 'The Man Company'. Here's all about it.
The strategic investment, which happens to be the first for Khurrana, will get him an undisclosed percentage of equity in The Man Company. Hitesh Dhingra, the founder and MD of the brand, said that the actor has made the investment in his personal capacity. As such, he added, the deal will only see him become the company's brand ambassador, not a board member.
As TMC's brand ambassador, Khurrana will support the company's 'Bring Out The #GentlemanInYou' initiative to encourage men. The effort hopes to change the social definition of a 'Man' by highlighting that even a gentleman can have their own flaws, weaknesses or vulnerabilities. Notably, this campaign was the reason that led Khurrana to invest in The Man Company.
"I believe men should be comfortable to embrace their vulnerability and their weaknesses," Khurrana told YourStory, adding "I immediately connected with the philosophy of The Man Company and consider the company as a progressive and extremely inclusive brand whose products I love using.''
Since its inception in 2015, The Man Company has evolved into a brand selling grooming essentials ranging from hair gels, shampoos, and face washes to beard oils, beard washes, and shave gels. The company claims to have a 30% market share in the beard grooming category and more than 1,000 brand touchpoints in the form of salons, retail stores, and health & beauty stores.
According to Dhingra, the funds raised from Khurrana will be utilized for branding and expanding the presence of The Man Company pan India. To recall, before this, the start-up had raised funding in two separate tranches from local FMCG giant Emami, which owns 30% stake in the company and also has a board representation.