VLCC acquires Happily Unmarried, enters men's grooming business
The acquisition, which marks VLCC's entry into the men's grooming segment through the Ustraa brand, would be through a combination of secondary buyout and share swap.
Beauty and skincare brandhas acquired , which owns men's grooming brand , for an undisclosed amount.
The acquisition, which will help VLCC enter the men's grooming segment, would be through a combination of secondary buyout and share swap, said a joint statement from the companies.
"This partnership brings together two pioneering home-grown personal care brands, combining Ustraa's leading position in men's grooming range with VLCC's growing skincare products portfolio," said the statement.
Post-merger, VLCC will make further investments to accelerate the growth of Ustraa, it noted.
"We are impressed with Ustraa's leading position in fast. This acquisition marks VLCC's foray into the men's grooming market and our aim is to accelerate Ustraa's growth journey by leveraging VLCC's pan-India offline distribution," said Vikas Gupta, CEO of VLCC.
In parallel, VLCC's existing product business will benefit from Ustraa's tech and digital expertise to scale up in new-age commerce, he added.
Founded in 2015 by Rahul Anand and Rajat Tuli, Ustraa was one of India's first D2C brands focused on men's grooming. It is backed by marquee investors, including InfoEdge, 360 One (formerly IIFL Ventures), and Wipro.
"VLCC represents a perfect strategic partner to help us broaden our customer reach, especially in offline retail. VLCC's strong management is well supported by Carlyle globally," said Ustraa's founders.
The Ustraa brand has over 85 SKUs across fragrances, hair care, face care, and beard care and 2.2 million customers on its app.
VLCC was founded by Vandana Luthra and Mukesh Luthra as a beauty and weight management services centre in 1989. Its operations span 310 locations in 139 cities and 11 countries.
(With edits by YourStory.)
Edited by Swetha Kannan