D2C men’s grooming startup Menhood’s company secretary and compliance officer, Ankita Soni, has stepped down.
In a filing with NSE Emerge, the D2C startup said that the resignation came into effect on October 5. Soni, who was appointed in December 2023, oversaw the company’s statutory compliance, among other responsibilities.
As per Menhood’s draft red herring prospectus (DRHP), Soni, before joining Menhood, served as company secretary at consulting firm GACM Technologies, where she advised senior leadership on corporate governance and regulatory matters.
Founded in 2019 by Dushyant Gandotra, Divya Gandotra and Shivam Bhateja, Menhood offers a range of men’s grooming and lifestyle products, including trimmers, intimate perfumes, and moisturisers.
It competes with D2C brands such as The Man Company, Bombay Shaving Company and Beardo. The in July this year, and its IPO was oversubscribed 157.5X.
The development comes months after FMCG major Emami purchased D2C men’s grooming brand The Man Company in an all-cash deal. Following the completion of the deal, Helios Lifestyle Pvt Ltd, the parent entity of The Man Company, became a wholly owned subsidiary of Emami.
As per an analysis by Inc42, the Indian beauty and personal care market is projected to become a $28 Bn opportunity by 2030, accounting for 7% of the overall ecommerce market.
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