CHENNAI: ITC proposes to acquire 10 per cent stake in Blupin Technologies Private Limited, the company behind brand Mylo.
Founded in 2017, Mylo, is a full stack community eco-system focused on the parenting journey of young families.
Mylo addresses the needs of its consumers through a wide and relevant range of content, health tools, conversations and community sharing features. Beyond personalised content and an active community, Mylo also offers its users direct-to-consumer (D2C) personal care brands.
With this investment, ITC will further expand its presence in the D2C mother and baby care segment. In November 2021, the Company had announced its investment in Mother Sparsh Baby Care Private Limited, an ayurvedic and natural personal care brand in the D2C space with a focus on the mother and baby care segment.
Sameer Satpathy, Chief Executive, Personal Care Products Business, ITC Limited said, “Our investment in Mylo will also enable us to strengthen focus in the mother and baby community building platform, besides expanding our presence in the D2C mother and child care segment.” Mylo has also launched health services, including wellness packages, besides evaluating partnerships with reputed healthcare brands in India to drive its services business.