FMCG major Emami Ltd’s Dubai-based subsidiary, Emami International FZE, and one of the Emami promoters together picked up an 8.87 per cent stake in US-based personal care start-up Loli Beauty Inc, for a consolidated sum of $665,000 (about ₹4.5 crore).
According to a stock market disclosure, Emami International picked up around a 7.54 per cent stake at $465,000 and the promoter — whose name was not revealed — had picked up around 1.33 per cent stake at $100,000.
The Delaware-based company sells natural and organic personal care products under the BIY (Blend-It-Yourself) format. This is Emami’s third investment in start-ups over the last one year.
In December 2017, it picked up a stake in male grooming brand The Man Company.
In February this year, Emami invested in Brillare, which produces hair and skin care products for professional salons.