9 months ago
FMCG Majors Expand in Men's Grooming
Big companies that sell everyday products like soaps and shampoos are buying smaller brands that make grooming products for men.
Two recent deals include Honasa Consumer buying Reginald Men for ₹195 crore and Godrej Consumer buying Muuchstac for ₹450 crore.
These smaller brands have done well by focusing on specific products like face wash and sunscreen.
The men's grooming market in India is growing fast, and these big companies want to be part of it.
They see these smaller brands as a good way to reach young men who are willing to pay more for products they trust.
The goal is to combine the strengths of big companies with the digital savvy of smaller brands to win in this growing market.
Honasa Consumer acquires Reginald Men for ₹195 crore, entering the men's personal care space.
Godrej Consumer acquires Muuchstac for ₹450 crore, focusing on men's face wash.
India's men's grooming market is valued at ₹16,800-18,000 crore, growing at 10-12% annually.
Muuchstac's face wash is its top product, accounting for 90% of its ₹80 crore revenue.
Reginald Men's hero product is its Helios moisturizing sunscreen, popular in South India.
- Who
- FMCG majors like Honasa Consumer and Godrej Consumer Products Ltd
- What
- Acquiring men's grooming brands Reginald Men and Muuchstac
- Where
- India
- When
- Recent acquisitions in 2025
- Why
- To tap into the growing men's grooming market and leverage specific high-growth segments
Key facts
- Acquisition 1
- Honasa Consumer acquires Reginald Men for ₹195 crore
- Acquisition 2
- Godrej Consumer acquires Muuchstac for ₹450 crore
- Market Size
- India's men's grooming market estimated at ₹16,800-18,000 crore in 2025
- Growth Rate
- Men's grooming market growing at 10-12% CAGR
- Muuchstac Revenue
- ₹80 crore (as of September 2025), 90% from face wash
- Reginald Men Revenue
- Over ₹70 crore in under three years
- Men's Face Wash Market
- ₹1,000 crore, growing at 25% annually
- India's Face Wash Market
- ₹7,000 crore, growing at 15-20% annually
Quotes
Ghazal Alagh
Co-founder of Mamaearth
“The move not only marks Honasa’s entry into the men’s personal care space but also leverages Reginald Men’s expertise in specific segments like sunscreens and serums.”
financialexpress.com
Sudhir Sitapati
MD & CEO, GCPL
“The acquisition of Muuchstac was strategically about facial cleansing for men, rather than male grooming per se. It represents an upgrade from soap to face wash, has a strong P&L, and added capabilities. Those were the factors that drove the acquisition, and these parameters will guide our future M&A decisions too.”
financialexpress.com
Honasa Consumer spokesperson
Spokesperson for Honasa Consumer
“Reginald Men’s edge is that it has been built on simplification of personal care for men. Helios becoming the most-searched men’s sunscreen in India (on Google) was driven by fast consumer adoption and recommendation. Our focus will be on product education, clear communication of benefits, and credible voices. Men tend to respond better to performance and proof than to aspirational messaging.”
financialexpress.com
Anand Ramanathan
Partner & consumer industry leader, Deloitte India
“Digital penetration and e-commerce growth have made niche grooming products more accessible, while quick commerce platforms have accelerated trial and repeat purchases. D2C brands leverage data-driven personalisation, offering curated product bundles tailored to individual needs. Large FMCG players see this as a high-margin category aligned with premium lifestyle trends, making it a strategic growth lever in an otherwise competitive personal care market.”
financialexpress.com
Shekhar Suman
Co-founder of Brandshark
“First, these brands have already figured out what today’s male consumer wants by using real-time digital feedback. Second, they come with built-in credibility at higher price points. Instead of trying to reposition a legacy brand or educate consumers from scratch, acquirers get a ready-made relationship with young men who are willing to pay more for products they trust.”
financialexpress.com
