in

ITC to invest in D2C Community-Commerce Brand Mylo

ITC

ITC intends to purchase a 10% share in Blupin Technologies Private Limited, the firm behind the Mylo brand. Mylo is a full stack community eco-system focusing on the parenting journey of young families, which was founded in 2017. Mylo provides a diverse and relevant selection of material, health tools, chats, and community sharing features to meet the needs of its users. Aside from personalised information and a vibrant community, Mylo also provides direct-to-consumer (D2C) personal care brands to its consumers.

ITC will increase its footprint in the D2C mother and baby care area with this investment. Mother Sparsh Baby Care Private Limited, an ayurvedic and natural personal care brand in the D2C industry with a focus on the mother and baby, was acquired by the Company in November 2021.

This investment will provide ITC an early mover advantage in the evolving Content-to-Community-to-Commerce space, which is expected to emerge as a platform of the future. The ‘ITC Next’ strategy articulated by Chairman Sanjiv Puri, which focusses on agility, consumer-centricity and future-readiness amidst a digital-first culture has identified such value accretive opportunities as a vector of growth.

Commenting on the development, Sameer Satpathy, Chief Executive, Personal Care Products Business, ITC Limited said, “Within a short period of time, Mylo has demonstrated great potential in the evolving Content-to-Community-to-Commerce model by nurturing an online platform where people learn, share, trust and belong. The investment will provide ITC the opportunity to foray into this emerging space and become an integral part of the evolution of this area. Our investment in Mylo will also enable us to strengthen focus in the mother and baby community building platform, besides expanding our presence in the D2C mother and child care segment.”

Speaking on the investment from ITC,  Vinit Garg, Founder and CEO, Blupin Technologies Private Limited, said, “We are delighted that ITC has put its faith in the Mylo brand and community, which has grown at a remarkable pace since inception. ITC has been an exemplar in leveraging the power of innovation and digitalisation to create winning brands. We are confident that this partnership will further provide unique synergies and competitive strengths to scale our business.”

What do you think?

Comments

Leave a Reply

Your email address will not be published.

Loading…

0

“Fresh” Personal care D2C brand, Nat Habit raises $4 Million led by Fireside ventures

Cricket NFTs platform Rario raises $120 million in Series A Funding