Emami makes investment in Brillare Science

Indian fast-moving consumer goods (FMCG) company Emami has agreed to invest in professional beauty care products maker Brillare Science.

Emami will make its investment through compulsory convertible preference shares (CCPS) in two tranches, which will result in 26% equity stake in Brillare on a fully diluted basis.

The firm has subscribed to 100 equity shares equivalent to 0.02% of the issued and paid equity share capital of Brillare, as well as 1,13,887 CCPS in the first tranche. The remaining 1,13,986 CCPS will be subscribed in the second tranche.

All the CCPS held by Emami will be converted into equity shares of Brillare by the end of July 2020.

Emami director Harsha V Agarwal said: “Brillare products are based on nature and science, resulting in high-quality, innovative products that are perfect answers to today’s discerning consumers, who do  not hesitate to spend a little more on premium quality professional treatment.

“The investment in Brillare is in line with the company’s strategy of exploring the professional personal care segment through channels such as high-end salons that have the potential to become one of the key channels in the future that requires different capability, expertise and relevant products.”

The price of the subscribed equity shares and CCPS have not been disclosed.

Brillare founder and CEO Jigar Patel said: “Emami with its strong business insight and deep industry experience is a perfect partner to help us accelerate our growth and take it to the next level.

“Together, we aim to become the most aspiring, innovative focused and consumer-loved brand originated from India.”

Established in 2015, Brillare operates under brands Brillare Science, Elementi Puro and Root Deep.

Brillare provides customised beauty treatment products for hair and skin that are sold in salons.

With a portfolio of more than 300 products, Emami is involved in manufacturing and marketing personal care, healthcare and beauty products.