Honasa Bets Big On Men’s Grooming With Reginald Men Acquisition

Honasa Consumer Limited, known for brands like Mamaearth and The Derma Co, has made its first major entry into the men’s grooming segment by acquiring BTM Ventures, the parent company of Reginald Men. The Rs 195 crore deal involves a 95 percent stake purchase via secondary sale, with the remaining 5 percent to be acquired after 12 months. This acquisition marks a significant diversification for Honasa, which has so far focused largely on women’s and family-oriented personal care products.  

Founded in 2022 by Trisha Reddy Talasani, Reginald Men has quickly established itself as a premium player in men’s grooming, offering products such as sunscreens, serums, and skincare essentials. The brand reported strong revenue growth, crossing Rs 70 crore in sales within three years, and has built a loyal customer base in South India.  

Key highlights from the announcement include  

• Honasa acquires 95 percent stake in BTM Ventures, parent of Reginald Men, for Rs 195 crore.  
• Remaining 5 percent stake to be acquired after 12 months under pre-agreed valuation terms.  
• Reginald Men reported Rs 74 crore in trailing sales with 24 percent EBITDA margins, signaling profitability.  
• The acquisition expands Honasa’s portfolio into the Rs 200 billion men’s grooming market, projected to double by 2032.  
• Shares of Honasa Consumer rose over 2 percent following the announcement, reflecting investor confidence.  
• Analysts view the move as a strategic diversification, adding a high-margin brand to Honasa’s portfolio.  
• The acquisition is expected to strengthen Honasa’s presence in premium categories and broaden its consumer base.  

This acquisition underscores Honasa’s ambition to capture emerging opportunities in men’s grooming, a segment witnessing rapid growth in India. By betting on Reginald Men, Honasa is positioning itself to leverage rising demand for premium male personal care products, while diversifying its portfolio beyond its established brands.  

Sources: Moneycontrol, LiveMint, Hindu BusinessLine, CNBC TV18