Lifestyle products firm Happily Unmarried Marketing is set to receive funding from IT major Wipro’s a consumer products division Wipro Consumer Care. The Delhi-based company has 2 brands under its fold, ‘Happily Unmarried’ and ‘Ustraa’.
The venture has an existing investor, Info Edge India, which is more popularly known through its job site Naukri.com. Info Edge is also taking part in the fresh infusion of funds into Happily Unmarried.
Though there is an official confirmation on the development by Wipro Consumer Care, the other details of the amount being invested are still to be disclosed. Some sources indicate this funding exercise involves an exchange of 20% stake in the company for a consideration of Rs 50 crore. It is however learnt that Info Edge has filed with the stock exchange that with the fresh investment of Rs 5 crore in Happily Unmarried Marketing, its overall holding has risen to 47.21% in the company. It has been making investments in several tranches since 2012.
Of the 2 brands, the ‘Happily Unmarried’ brand has several products for men and women in the personal care space, like face and body wash to shaving foam and cologne. The other brand, ‘Ustraa’, however has men only dedicated products.
The company sells its products through traditional channels as well as through online sources like Amazon and Flipkart. Happily Unmarried has its own ecommerce website as well, to sell its range of personal products. The company appears to be registering a decent growth in its business with the last full year’s results showing almost a 25% jump in sales, over the previous year.