Kolkata: FMCG-to-Tobacco-Hospitality Group ITC is acquiring a 16% stake in Mother Sparsh baby care, a Ayurvedic and natural personal care brands. mother touch Works in Directto-consumer (d2c) Location. It has a wide range of products – sold through both offline and online channels.
It is learned that ITC has invested a little over Rs 20 crore in the company, taking the valuation of Mother Sparsh to around Rs 125 crore. A top ITC executive said the investment is in line with the ‘ITC Next’ strategy articulated by its chairman Sanjiv Puri, which aims to create a future ready organization with a ‘DigitalFirst’ culture. One of the identified pillars of this strategy is to accelerate digital transformation by developing a Digital First FMCG brand.
ITC is also focusing on strengthening D2C platforms of distribution and has created a vibrant ITC eStore.
It is learned that ITC has invested a little over Rs 20 crore in the company, taking the valuation of Mother Sparsh to around Rs 125 crore. A top ITC executive said the investment is in line with the ‘ITC Next’ strategy articulated by its chairman Sanjiv Puri, which aims to create a future ready organization with a ‘DigitalFirst’ culture. One of the identified pillars of this strategy is to accelerate digital transformation by developing a Digital First FMCG brand.
ITC is also focusing on strengthening D2C platforms of distribution and has created a vibrant ITC eStore.
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