Marico acquired a 60% stake in Cosmix, a nutrition startup that’s doing well online. The deal values Cosmix at ₹375 crore. This move shows Marico is serious about its plan to invest in direct-to-consumer businesses in India and grow its presence in the nutrition and wellness area.
Cosmix, which focuses on plant-based protein and wellness products, was founded in 2019 and has become a popular brand among health-conscious people in India. It’s a profitable brand that Marico is adding to its collection of new-age consumer brands.
Cosmix mainly sells its products through its website and online stores, which goes hand-in-hand with how people are shopping these days. The company has been profitable since it started. In FY25, Cosmix made around ₹50 crore in revenue, which is a big jump from the ₹24 crore it made in FY24. Now, its annual revenue is at ₹100 crore, which shows there’s a high demand for its products.
Marico wants to grow its direct-to-consumer business, and buying Cosmix fits right into that plan. Instead of creating everything from scratch, Marico has been supporting and expanding brands that were born online. Over the years, Marico has become a major player in buying direct-to-consumer companies, using its money, knowledge of distribution, and brand-building skills to help these companies grow in areas like grooming, wellness, and food.
Marico started its direct-to-consumer adventure in 2017 when it bought Beardo, which has been a huge success. According to TheKredible, Beardo’s revenue went past ₹200 crore in FY25, and its profits increased a lot compared to the previous year. This shows that big FMCG companies can help direct-to-consumer brands grow. Besides Beardo, Marico also owns Plix, True Elements, and Just Herbs, which are involved in nutrition, wellness, and personal care.
By adding Cosmix, Marico is showing that it’s serious about food and beverage brands, especially in the protein and wellness market. More and more people are caring about fitness, clean ingredients, and plant-based nutrition, making this market attractive to buyers and investors. Cosmix is profitable and operates online. It’s a good fit for Marico because it can grow faster without losing its brand identity.
This move is part of a larger pattern in India’s FMCG industry, where big companies are buying well-known direct-to-consumer brands to stay relevant with younger shoppers. For example, Hindustan Unilever Limited bought Minimalist last year, which shows they believe in digitally native brands that are backed by research.
As more direct-to-consumer companies are being bought out, Marico’s purchase of Cosmix confirms that direct-to-consumer startups that have a strong brand and are making money are becoming important for big companies to grow. Cosmix will now have access to Marico’s skills, money, and long-term plans, which will help it grow in India’s wellness market.
This deal is another example of how India’s direct-to-consumer market is developing, from experimenting to building scale, making strategic purchases, and creating lasting value.
