ITC will acquire 10.07 per cent stake in Bluepin Technologies Pvt Ltd, a company of D2C (Direct to Consumer) brand Mylo, which operates in various business segments. This acquisition will be done for around Rs 39.34 crore.
ITC told the stock exchanges, “With this investment the company will be able to expand its presence in the mother and child care space.” ITC officer Sameer Satpati said, “This investment will enable ITC to step into the emerging sector. will have the opportunity to hold
You Bluepin Technologies is a web and app based ‘content-to-community-to-commerce’ platform and sells mother and baby care products and services under the brand ‘Mylo’.
Vineet Garg, Founder & CEO, Bluepin Technologies said that this partnership with ITC will help Mylo grow its business and make it stronger than its competitors.