ITC will acquire a 10 per cent stake in Blupin Technologies Private Limited, the company behind Mylo, a community platform that offers personalised content, health tools, and direct-to-consumer (D2C) personal care brands for parenting.
In November last year, ITC had announced its investment in Mother Sparsh Baby Care Private Limited, a D2C brand with a focus on the mother and baby care segment.
“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,” said Sameer Satpathy, CEO, personal care products business, ITC Limited.
The content-to-community-to-commerce space is expected to emerge strongly in the near future, and with this investment, ITC gains an early-mover advantage.
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