As men's grooming comes of age, consumer brands Godrej, Honasa and others bet big on the space

Consumer companies are increasingly betting on the male grooming and personal care categories as men's attitudes towards self-care are changing and they are willing to buy premium products.

Honasa Consumer recently announced the acquisition of BTM Ventures, which operates the brand Reginald Men, a premium men's skincare range. Last month, Godrej Consumer acquired men's grooming brand Muuchstac in a whopping all-cash deal of Rs 450 crore.

Varun Alagh-led Honasa Consumer will acquire a 95% stake in BTM Ventures for an enterprise value of Rs 195 crore via secondary purchase. The remaining 5% is expected to be acquired after 12 months based on pre-agreed valuation criteria.

Founded in 2022 by Trisha Reddy, Reginald Men offers a range of products including serums and sunscreens. It clocked a topline of over Rs 70 crore in the 12 months ended October 2025, with a 25% EBITDA.

The acquisition complements's Honasa's existing portfolio, which includes Dr Sheth's, The Derma Co, and Aqualogica, which are strong in the sunscreen and serum categories. Reginald Men is also expected to strengthen Honasa's presence in South India, which accounts for a majority of the brand's revenues.

"The men’s personal care category is evolving rapidly, and Reginald Men’s deep insight into this segment, especially its nuanced understanding of what today’s male consumers seek makes them a strong strategic fit for us," said Varun Alagh, Co-founder & CEO, Honasa Consumer in a press note.

According to a report by Fireside Ventures, the men's grooming market is expected to go from $13 billion in 2022 to $25 billion by 2030, growing at a CAGR of 9%. The report notes a 9x rise in Google search for men's skincare routine in the last five years.

The Man Company, Beardo, Bombay Shaving Company, Ustraa and LetsShave are the other major players in the male grooming segment. Beardo was acquired by Marico in 2020, while VLCC acquired Ustraa in 2023.

The booming men's care market has prompted more M&A activity and investment in recent times.

Godrej Consumer's acquisition of Muuchstac's bets on the brand's strong position in the men's face wash category, which accounts for 90% of the company's business. Muuchstac has achieved a healthy adjusted EBITDA of Rs 30 crore and a revenue of Rs 80 crore.

In November, Bombay Shaving Company, which recently turned PAT profitable, raised Rs 136 crore in fresh funding. It is planning for an IPO after doubling revenues and hitting a Rs 550-crore annualised run rate.