NEW DELHI: Honasa Consumer (HCPL), parent company of direct-to-consumer personal care startup mamaearthhas acquired the salon business and products division of BBlunt from Godrej Consumer Products (GCPL) for around Rs 135 crore.
The development comes against the backdrop of the crippling effect the pandemic has had on the salon business, including store closures and mass exodus of staff. “The brand has carved a niche for itself and considering the market size of Rs 6,000 crore in hair color and hairstyling, the brand has potential to grow exponentially,” said Varun Alagh, co-founder and CEO, Honasa Consumer.
As part of the acquisition, the hair care and styling products business will be completely owned and managed by Honasa Consumer.
The development comes against the backdrop of the crippling effect the pandemic has had on the salon business, including store closures and mass exodus of staff. “The brand has carved a niche for itself and considering the market size of Rs 6,000 crore in hair color and hairstyling, the brand has potential to grow exponentially,” said Varun Alagh, co-founder and CEO, Honasa Consumer.
As part of the acquisition, the hair care and styling products business will be completely owned and managed by Honasa Consumer.
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