Honasa Consumer Limited, known for brands like Mamaearth and The Derma Co, is moving into men’s personal care by buying Reginald Men. The deal, worth ₹195 crore and announced on December 11, marks Honasa’s first big step into the men’s grooming space. This supports their plan to shape the future of India’s direct-to-consumer market.
In what might be remembered as a key direct-to-consumer deal of 2025, Honasa will acquire 95% of BTM Ventures Pvt Ltd, which owns Reginald Men, through a secondary sale. After a year, they’ll buy the remaining 5% at a price agreed upon by both parties. This action fits with the trend of established Indian direct-to-consumer companies growing their business by buying other brands instead of developing everything themselves.
Reginald Men, started in August 2022 by Trisha Reddy Talasani, quickly became a popular premium direct-to-consumer personal care brand for men. In just over two years, the brand made over ₹70 crore in revenue between November 2024 and October 2025, with profit margins close to 25%. Their Helios Moisturizing Sunscreen has become the most searched sunscreen for men on Google in India, showing how a focused approach can drive fast direct-to-consumer revenue.
For Honasa, this purchase gives them quick entry to a growing consumer group. Men’s grooming and skincare is expanding fast within the Indian direct-to-consumer beauty market, driven by changing consumer habits and online trends. Reginald Men’s success in South India also strengthens Honasa’s reach, supporting their plans to grow beyond major cities.
Varun Alagh, Co-Founder and CEO of Honasa Consumer Limited, mentioned that Reginald Men’s grasp of the modern male consumer and their quick actions align with Honasa’s goals. This shows a move toward buying brands with good performance, strong profit margins, and clear leadership in their category, instead of just focusing on size.
This purchase comes as Honasa is showing operational strength. The company reported a net profit of ₹39 crore in Q2 FY26, up from a loss of ₹18.57 crore last year. Revenue grew by 16% to ₹538 crore, while expenses stayed steady at ₹505 crore. These numbers confirm Honasa’s position among the top direct-to-consumer brands and boost its reputation.
As India’s direct-to-consumer market grows, this deal shows a common trend: leaders are consolidating, improving their portfolios, and using acquisitions to grow faster. For Reginald Men, joining Honasa offers scale, better distribution, and access to effective brand-building methods. For Honasa, the purchase indicates belief in men’s personal care as a long-term driver of growth in the Indian direct-to-consumer market.
In short, this shows the maturity of the direct-to-consumer market in India, where resources, brand clarity, and effective execution are essential for success.
