Godrej Consumer Products is reportedly in talks for a deal with Raymond for its male grooming brand Park Avenue and Kamasutra condoms.
The potential deal will give Godrej Consumer a larger play in men's personal care and sexual wellness categories. The Singhania family-backed Raymond has been looking to divest its consumer care business for over two years, The Economic Times reported citing people aware of the matter.
Godrej Consumer Products had in past acquired hair care brand bBlunt but if the deal goes through it will its first large deal with an Indian brand.
Last year, direct to consumer firm Good Glam Group called off talks to acquire Raymond's consumer care business citing expensive valuations.
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With sales of Rs 522 crore in FY22, Raymond is one of the top five players in the men's deodorants category, third largest in branded condom segment, but is a fringe player in mainstream soaps and shampoo market, The ET report said.
The development comes at a time when Godrej Consumer Products, which has a portfolio of personal and home care products including Cinthol men's grooming, Ezee liquid detergent and household insecticide brands Hit and GoodKnight, is witnessing steady recovery in consumer demand in the year, ET report added.
