NEW DELHI : ITC Ltd will make its first investment in a direct-to-consumer (D2C) brand as the cigarette-to-chocolate conglomerate raises its bets on the fast-growing online retail market. ITC will buy a 16% stake in online-first mother and baby care Mother Sparsh brand for ₹20 crore, the company said in a regulatory filing on Friday. Mother Sparsh is a premium ayurveda and personal care brand with products such as baby wipes, hair oils, and skin creams for mothers and babies. ITC’s investment underlines the clout D2C brands have steadily built in India’s $110 billion FMCG market. The conglomerate has a portfolio of 25 packaged consumer goods brands.

Source: Mint November 27, 2021 02:39 UTC