mCaffeine, a personal care brand, has announced its Employee Stock Ownership Plan (ESOP) for its employees, as mentioned in a recent press release.
With this ESOP plan, mCaffeine aims to create approximately 100 crorepatis within the company, catalyzing wealth creation and contributing to the country’s economic growth, as mentioned in the release.
The scheme will cover seven different verticals within the industry, and the company plans to allocate 10 percent of its shares to its employees.
“The ESOP scheme opens a new growth avenue for employees and the brand alike, hence creating opportunities for a collective and brighter tomorrow” said Tarun Sharma, co-founder and CEO, mCaffeine.
Udbhava Mishra, Founder’s office, Growth Strategy said, “After being a part of mCaffeine, I finally understand what a thriving atmosphere feels like. Our efforts are never unrecognized and we seldom feel unheard. mCaffeine always go a step ahead for its employees, and the ESOP scheme is proof of their vision of collective growth. This initiative fuels us to work harder and see the brand as our own. It’s about the trust our founders put in us, and I’m proud to be part of the mCaffeine family.”
mCaffeine Aiming for 1,000 Employees by FY24
Nevertheless, the company asserts its goal of a ninefold increase in employee strength, reaching a total capacity of over 600 employees. Furthermore, the startup aims to surpass the 1,000-employee mark by FY24.
Founded in 2016, mCaffeine asserts that it has sold over 25 million products to customers in more than 20,000 PIN codes across India.
Continue Exploring: Bollywood actor Kriti Sanon joins forces with mCaffeine to launch D2C skincare brand ‘Hyphen’