Baby and mother care brand Mother Sparsh, which over the past year diversified its product portfolio by nearly 25%, on Friday said that it is further set to enhance its R&D capabilities and focus on new product launches. The announcement comes alongside the raising of Series A fund from FMCG giant ITC. Mother Sparsh, which has in the past introduced innovative nature-oriented products like India’s first 99% Pure Water bio-degradable baby wipes, recently forayed into the kids segment with Brahmi-powered kids hair care range.
In a statement about the latest development, Mother Sparsh co-founder and CEO Himanshu Gandhi said, “We are elated to be associated with a partner like ITC whose ethos compliments our brand vision. ITC is in sync with what we envisioned as the future of Mother Sparsh. We expect to scale-up our revenues to Rs 300 crore over the next three to five years.”
Mother Sparsh co-founder Rishu Gandhi added, “ITC’s decision to invest in the company was propelled by the wide portfolio and mix of products, which enabled Mother Sparsh to grow from strength to strength each year. It assumes significance in wake of a multi-fold increase in the website sales clocked by the brand over the past few months. The company at present registers over 85% of its sales through online channels and has over the past 12 months diversified its product portfolio by over 25%.”
Speaking about the investment, Sameer Satpathy, Chief Executive, Personal Care Products Businessat ITC said, “We believe that this investment provides an exciting opportunity which is in alignment with our aspiration to have a significant play both in the naturals and ayurvedic segment as well as in the D2C channel. Mother Sparsh has, within a short span of time, evolved into an effective D2C brand with a range of innovative products and a lot of promise.”
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