Hindustan Unilever forays into health and wellbeing segment

10 Dec 2022 , 12:02 PM

Hindustan Unilever announced its foray into the Health amp; Wellbeing category through strategic investments in Zywie Ventures OZiva and Nutritionalab Wellbeing Nutrition Health amp; Wellbeing is a fast-evolving category in India with a total potential market size of c Rs 30000 crore

Launched in 2016 OZiva is a leading plant-based and clean-label consumer wellness brand focused on the need spaces such as Lifestyle Protein Hair amp; Beauty Supplements and Womens health It is a digital-first brand with an omnichannel approach available on its website D2C digital marketplaces and offline stores where its presence is growing The company has a strong in-house Ramp;D team comprising PhDs Phyto-chemists and Biotechnologists HUL will acquire 51Percentage equity stake through a combination of primary infusion and secondary buyouts The balance 49Percentage will be acquired at the end of 36 months based on pre-agreed valuation criteria The current OZiva team led by Aarti Gill and Mihir Gadani will continue to operate all functions of the business HUL will have representation on the Board and will provide necessary capabilities and support to scale up

Founded in 2019 Wellbeing Nutrition has pioneered disruptive formats in science-backed benefit-led clean products in Health amp; Wellbeing Its product range includes Melts Oral Thin Strips Slow Slow-Release capsules and Marine Collagen powder focused on need spaces such as Beauty Everyday Health Gut Health and Sleep They have presence in D2C digital marketplaces and are expanding in offline retail channels HUL will acquire 198Percentage equity stake in the company through a combination of primary infusion and secondary buyouts The current Wellbeing Nutrition team led by Avnish Chhabria will continue to operate all functions of the business HUL will be represented on the Board

Both these transactions are expected to be completed in the next 1-3 months subject to customary closing conditions