To strengthen its presence in D2C mother and baby care segment
ITC proposes to acquire 10% stake in Blupin Technologies, the company behind brand Mylo.Founded in 2017, Mylo, is a full stack community eco-system focused on the parenting journey of young families. Mylo addresses the needs of its consumers through a wide and relevant range of content, health tools, conversations and community sharing features. Beyond personalised content and an active community, Mylo also offers its users direct-to-consumer (D2C) personal care brands.
With this investment, ITC will further expand its presence in the D2C mother and baby care segment. In November 2021, the Company had announced its investment in Mother Sparsh Baby Care, an ayurvedic and natural personal care brand in the D2C space with a focus on the mother and baby care segment.
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.
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