1908 E-ventures Pvt Ltd acquires personal care brand Coccoon

1908 E-ventures Pvt Ltd (an Ador Group Enterprise) has acquired the personal care brand Coccoon. 1908 E-ventures Pvt Ltd. was founded and accelerated by the Ador Group, a 114-year-old diversified business Group. The diversified business Group has over forty years of experience in the manufacturing and distribution of skin care and personal care products. 1908 E-ventures Pvt. Ltd. runs Sublime Life, an online platform and community founded in 2019, to connect and access ethical, sustainable, and clean brands from across the globe to the conscious consumer of today. The acquisition aims to bring growth for brand cocoon at 10x. In February 2022, Sublime Life raised $2 million in a funding round led by Root Ventures. Funds raised in this round will be utilized towards scaling up and strengthening the operations of Sublime Life, also boasting 1908's strategy to establish itself as a House of Brands.

Coccoon brand by EM & EM Personal Care Pvt Ltd. is devoted to protection, pampering & nourishment with products in the skin and hair care category for men and women. Founded by Dr. Mohit Lalvani a serial entrepreneur, his ventures are focused on solving problems in the beauty and personal care industry. With a passion for formulation, knowledge, and resources from having years of experience in the industry, he established a personal care brand, Coccoon, in 2017, to stir the entire beauty industry. Coccoon delivers customers with products that are paraben-free, devoid of any harmful chemicals, and developed from a composition of ingredients that include natural actives obtained from natural sources across the globe.

Commenting on the acquisition, Dr. Deep Lalvani, 1908 E-Ventures Pvt Ltd said, "This is a significant time for us at The Company. Coccoon is a quality brand celebrated across India. Its exciting range in the personal care category aligns with our sensibilities of creating clean and environmentally conscious products. Coccoon presents us with an immense opportunity to cater to the aspirations of wellness and beauty-conscious customers around the world. We will extend our full support for Coccoon to regain its rightful glory.' He further added ' Sublime Life, as the pioneer of the clean beauty industry in India will work closely with its customers and stakeholders to bring the best-inclass products and formulations to market. With Coccoon, the company will further enhance its product offering with performance-based and concern-based ingredients and products. We look forward to growing the brand exponentially in the coming years."

Dr. Mohit Lalvani, Founder, Coccoon said "With a core focus on well-being, our products go through a series of tests and we have been quick to establish products that are nontoxic, clinically tested, dermatologically approved, and safe to use. This acquisition is a step in the right direction for us as it will unlock strong collaborations between both the brands and drive Coccoon's growth by leveraging the global reach of 1908 E-ventures Pvt Ltd (an Ador Group Enterprise) and their varied skilled capabilities."

Coccoon has acclaimed products in the skin and hair care segment like sulphate free shampoos, nourishing hair masks, hair serums, polishing mists, and products like repairing night creams, moisturizers, face washes in the skincare segment. Coccoon is also known for the uniqueness of products and formulations across its skincare and haircare range. The product range is targeted at urban women and men who not only care about how they look but are also conscious of the kind of products that they use on their skin and hair.

The official acquisition was completed after 6 weeks of planning. With this acquisition, 1908 E-Ventures further plans to build on its clean beauty platform led house of brand strategy and is geared up to further enhance the eco-system for Coccoon and accelerate growth with new product launches and marketing strength for the brand.

Shares of ADOR MULTIPRODUCTS LTD. was last trading in BSE at Rs. 77.00 as compared to the previous close of Rs. 76.80. The total number of shares traded during the day was 6562 in over 23 trades.

The stock hit an intraday high of Rs. 79.35 and intraday low of 75.10. The net turnover during the day was Rs. 510511.00.

Source : Equity Bulls

Keywords

ADORMULTIPRODUCTS INE628D01014 1908EVentures BrandAcquisition Coccoon PersonalCare