FMCG major Godrej Consumer Products (GCPL), the maker of Cinthol soaps, has acquired a 30% stake in Mumbai-based Bhabani Blunt Hair Dressing (B:blunt) for an undisclosed sum. Launched in 2005, B:blunt, a premium hair salon company today has a pan-India presence with 17 outlets and four academies.
B:Blunt is run by Adhuna Bhabani Akhtar and Osh Bhabani with some other investors holding minor stakes .
At present, GCPL’s rivals Hindustan Unilever (Lakme), Marico (Kaya) and L’Oreal India have a strong presence in the beauty salon business in India.
Abneesh Roy, associate director – Institutional Equities – Research, Edelweiss Securities, said this is only a financial investment for GCPL for learning the salon business model.”GCPL will get a Board seat, which will help understand business better though management control will continue to remain with promoters. From a long-term perspective it will help grow the hair care brand to salons,? he added
In 2011, GCPL had completed the acquisition of 51 % stake in African hair care company Darling Group Holdings. It also acquired South Africa’s Kinky Group in 2008 and hair colour brand Rapidol in September 2006.
