Honasa Consumer Ltd., the powerhouse behind Mamaearth and The Derma Co, has made a decisive leap into the men’s grooming market with the acquisition of BTM Ventures Pvt. Ltd., the parent company of Reginald Men. The deal, valued at ₹195 crore, marks Honasa’s most aggressive expansion push since its IPO — and signals a new phase of category diversification for the beauty and personal care giant.
In this article, we will delve into Honasa Consumer’s bold move to acquire Reginald Men, exploring the strategy, market impact, brand synergies, and what this deal means for India’s men’s grooming space.
Credits: Ascendants
A Strategic Deal Designed for Scale
Under the terms of the agreement, Honasa will initially acquire a 95% stake through a secondary sale. The remaining 5% stake will be purchased after 12 months under pre-set terms — a staggered structure that allows a smooth transition while keeping the founding team engaged for another year.
This deal structure also underscores Honasa’s focus on continuity. By retaining the founders during the transition phase, the company aims to preserve Reginald Men’s growth momentum and integrate its brand DNA into Honasa’s larger playbook.
Reginald Men: A New-Age Brand With Rocketing Growth
Founded in August 2022 by Trisha Reddy Talasani, Reginald Men is one of the fastest-scaling brands in India’s premium men’s grooming segment. Despite being barely three years old, the brand has built an enviable business footprint:
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₹70 crore revenue between November 2024 and October 2025
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Nearly 25% EBITDA margin, a standout in the early-stage D2C space
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Strong presence in South India, which contributes a majority of its revenue
Much of the brand’s pull comes from its sharp digital-first positioning. Its hero product — Helios Moisturizing Sunscreen — has become the most searched sunscreen for men on Google in India, a remarkable feat in a hyper-competitive skincare market.
This level of traction in the sunscreen and serum categories directly aligns with Honasa’s category expansion priorities.
Why Honasa Wanted Reginald Men
For Honasa, entering the men’s grooming space was not just inevitable — it was essential. The segment has seen rapid growth, fueled by:
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Rising digital adoption among urban male consumers
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The premiumisation wave in personal care
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The emergence of niche, need-based product lines
Instead of building a men’s grooming brand from scratch, Honasa has opted for a plug-and-play growth engine. Reginald Men comes with a strong product-market fit, proven marketing strategies, and a digital-native customer base — all of which perfectly complement Honasa’s scale advantages.
The acquisition is also a smart geographical bet. South India’s skincare market is among the most competitive and trend-forward in the country. Reginald Men’s stronghold in this region offers Honasa an immediate regional boost — and a deeper understanding of high-intent consumers.
Powering the Next Phase of Growth
Honasa has made it clear that the play is not just to expand into men’s grooming, but to accelerate growth across high-demand skincare categories. The company plans to integrate Reginald Men’s marketing and brand-building strategies into Mamaearth and The Derma Co’s sunscreen and serum portfolios.
From distribution to product innovation, Honasa’s ecosystem is expected to significantly amplify Reginald Men’s reach. Meanwhile, the founders’ continued involvement for the next year ensures the brand retains its creative and performance marketing edge during integration.
A Defining Moment for Men’s Grooming in India
With this acquisition, Honasa is sending a clear message: men’s grooming is no longer a peripheral category. It is a high-growth, high-margin opportunity — and Honasa wants a dominant seat at the table.
Reginald Men’s rapid scale, paired with Honasa’s operational muscle, creates a powerful combination poised to shape the next wave of targeted male skincare in India. As the category continues to mature, this deal could become one of the most pivotal moments in India’s men’s grooming landscape.
