KOLKATA: City-based Emami group has bought a stake in a U.S. beauty products’ company through its wholly-owned subsidiary in Dubai, the company said in a regulatory filing. The U.S. company deals in natural and organic personal care products.
One of the promoters of Emami has also acquired a stake in the U.S. company, LOLI Beauty Inc. The investment was pegged at $ 5,65,000 for a 7.54 % stake by Emami International FTZE and $ 1,00,000 for a 1.33 % stake by a promoter.
Emami spokesperson declined to disclose the name of the promoter who has acquired a stake in the U.S. firm.
Incorporated in 2014 and promoted by Tina Hedges, LOLI is a beauty care brand based on the do-it-yourself concept allowing customers to blend their own skin, hair and body products using foodgrade ingredients.
