ITC Limited is set to acquire a 10% stake in Blupin Technologies, the parent company of community-commerce brand Mylo, to enhance its presence in the D2C mother and child care segment.
Information on the Target
ITC Limited has proposed to acquire a 10% stake in Blupin Technologies Private Limited, which is the parent company of the D2C (Direct-to-Consumer) community-commerce brand, Mylo. Established in 2017, Mylo is dedicated to supporting the parenting journey of young families by creating a comprehensive community ecosystem. The brand focuses on addressing the needs of its users through a wide array of relevant content, health tools, and community-sharing features.
Mylo not only provides personalized content and fosters an active community but also offers direct-to-consumer personal care products specifically centered around motherhood and child care. This investment marks ITC's strategic move to further penetrate the D2C mother and baby care sector, building on its previous investment in Mother Sparsh Baby Care Private Limited.
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Industry Overview in India
The Indian retail industry, particularly in the personal care and parenting segments, is undergoing a significant transformation with an increasing shift towards digital platforms. The D2C market has expanded rapidly, fueled by
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ITC
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Blupin Technologies Private Limited
in 2022
in a Other Corporate deal