Honasa Consumer Ltd, the company behind Mamaearth, The Derma Co and Aqualogica, is making a decisive move into the men’s grooming space with the acquisition of BTM Ventures at an enterprise value of Rs 195 crore. The deal gives Honasa control of Reginald Men, a young but fast-scaling brand that has built a strong presence in the south Indian market through a focused range of men’s personal care products.
Reginald Men was founded in August 2022 by Trisha Reddy Talasani and has quickly carved out space in a category that has seen rapid consumer adoption over the past three years. The brand offers a curated line-up centred on sunscreen, serums and everyday grooming essentials. Over the twelve-month period from November 2024 to October 2025, it reported revenue of more than Rs 70 crore with an EBITDA margin of nearly twenty-five percent, placing it among the faster-growing independent brands in the men’s care segment.
Under the agreement, Honasa will acquire ninety-five percent of BTM Ventures through a secondary share purchase, with the remainder scheduled to be bought after a year based on valuation metrics agreed in advance. The deal gives Honasa immediate access to a consumer base that is both sticky and fast expanding, especially in the southern states where Reginald Men earns the bulk of its revenue.
Honasa said the acquisition strengthens its portfolio in categories that are already strategic priorities, particularly sunscreen and serums. Executives noted that the brand’s understanding of male grooming behaviour, product preferences and category gaps made it a strong fit at a time when men’s personal care is becoming one of the most dynamic sub-segments in beauty and wellness.
Varun Alagh, Co-founder and Chief Executive of Honasa Consumer, said the move reinforces the company’s position in India’s beauty and personal care market. He added that Reginald Men brings strong consumer insight and a clear product philosophy aimed at modern male buyers, making the acquisition a natural extension of Honasa’s growth strategy.
